“It is only a matter of time until Bitcoin makes a new all-time high,” said 10x Research CEO Markus Thielen in a note on June 7.
The analyst has observed a “head and shoulders” chart pattern, which is nearing completion. This could result in a “rally towards 83,000 soon,” he said, predicting that this may occur within the next week if resistance is broken.
However, bitcoin did hit resistance and retreated to just over $69,000 on June 7. Nevertheless, the analyst remains bullish, and the chart pattern is still in play.
Bitcoin Still Bullish
“We are bullish,” Thielen said, citing the start of the global central bank easing cycle, which has now been confirmed with interest rates being cut in Canada and Europe this week.
“With US growth, employment, and consumer spending weakening, it will only be a matter of time until inflation slows.”
US employment data was mixed, with the unemployment rate climbing to 4.0%, but an upside surprise was the number of jobs added. Howev
We współpracy z: https://cryptopotato.com/bitcoin-bulls-eye-83000-if-this-technical-pattern-pattern-plays-out/
