Bitcoin Breakout Targets $107,000 After Bollinger Band Squeeze

Bitcoin's daily chart indicates a promising technical setup with a well-formed base followed by a Bollinger Band Squeeze and an upside breakout. This positions Bitcoin to potentially reach targets of $100,000 and $107,000, assuming it maintains its upward trajectory.

John Bollinger notes a "near perfect base" for BTC with a breakout in progress.
The chart shows BTC trading at $94,484, with potential targets at $100,000 and $107,000.
If the price fails to hold, it may revert to prior base levels around $93,500.

Bollinger also comments on other cryptocurrencies:

ETH shows a similar pattern but is lagging behind BTC.
XRP has seen strong lifts, but its pattern is weaker compared to BTC and ETH.

Current BTC price: $93,325.