According to a post by 10x Research, it is only a matter of time before Bitcoin reaches a historic new high. The head and shoulders pattern indicates that Bitcoin will rebound to $83,000 soon, 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). Just 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, slowing inflation is only a matter of time. While the Fed has only cut rates once in the past 30 years during the period from May to November before a US presidential election, risk assets mainly depend on market expectations of rate cuts, rather than actual rate cuts.
10x Research Bitcoin Poised to Rebound to 83000 Resistance Line Likely to be Broken in the Coming Days
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