Bitcoin rebound is imminent‼ ️Big surge in a few days
It is only a matter of time before Bitcoin hits a new all-time high. The head and shoulders pattern suggests that Bitcoin will soon rebound to $83,000, and the resistance line is likely to be broken in the next few 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, it is only a matter of time before inflation slows. Although the Federal Reserve has only cut interest rates once in the past 30 years, between May and November before the US presidential election, risk assets are mainly determined by the market's expectations of rate cuts, not necessarily actual rate cuts.
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This makes us generally bullish on risk assets and we expect Bitcoin to hit a new all-time high. However, if Bitcoin fails to hit a sustainable new high, the reason may be the sharp drop in Ethereum price, as we pointed out earlier this week. We are monitoring the 3,725 support level. As traders and market analysts, we must consider every scenario and think ahead.
