- **Markus Thielen's Prediction**:
- Believes Bitcoin will reach a new all-time high.
- Spotted a "head and shoulders" pattern indicating a potential rally towards **$83,000**.
- **Current Resistance**:
- Bitcoin faced resistance and retreated to just over **$69,000** on June 7.
- Despite this, the bullish chart pattern remains in play.
- **Economic Factors**:
- Global central bank easing cycle has begun with rate cuts in Canada and Europe.
- US economic slowdown could lead to reduced inflation.
- **US Employment Data**:
- Unemployment rate increased to **4.0%**.
- Number of jobs added was higher than expected.
- **Bitcoin's Market Movement**:
- Price increased by **3.1%** with **$4.8 billion** inflows last week.
- Predicted rally was **5.8%**, based on regression analysis.
- **Inflow Analysis**:
- Around **$13 billion** in new inflows needed to hit the **$83,000** target.
- A breakout above **$71,600** could lead to more buying.
- **Market Sentiment**:
- Lower US employment and inflation data may support new highs for Bitcoin.
- Long-term holder selling is currently preventing price increases.
- **Bitcoin's Trading Price**:
- Trading at **$69,420**; found support after a **2.5%** decline.
- Needs to break **$71,500** for further upward momentum.
Keep an eye on the market trends and economic indicators for Bitcoin's next move! 👀💼
