According to a recent publication by 10x Research, it is just a matter of time before Bitcoin reaches a new all-time high. The head and shoulders pattern indicates that Bitcoin will soon bounce back to $83,000, with the resistance line likely to be broken in the coming days. The ideal time to break this resistance is today (Friday, June 7) or next week (Wednesday, June 12). A few days ago, we pointed out that the global central bank easing cycle is about to begin, and this week’s rate cuts in Canada, Denmark, and Europe have confirmed this. With the weakening of US economic growth, employment, and consumer spending, inflation slowing down is only a matter of time. Although the Federal Reserve has only cut rates once in the past 30 years during the May to November period before a US presidential election, the performance of risk assets depends largely on market expectations of rate cuts, rather than actual cuts.
10x Research Bitcoin Expected to Rebound to 83000 Soon Resistance Line Likely to Be Broken in the Coming Days
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