According to ChainCatcher, 10x Research said that it is only a matter of time before Bitcoin hits a new all-time high. The head and shoulders pattern indicates 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 through this resistance is today (Friday, June 7) or next week (Wednesday, June 12).
The global central bank easing cycle is about to begin, as confirmed by rate cuts in Canada, Denmark and Europe this week. With weaker growth, employment and consumer spending in the United States, it is only a matter of time before inflation slows. Overall, we are bullish on risk assets and expect Bitcoin to hit a new all-time high.
However, if Bitcoin fails to make sustainable new highs, the reason could be a sharp drop in Ethereum price. The 3,725 support level is being monitored. As a trader and market analyst, it is imperative to consider every scenario and think ahead.
