Reported 6 months ago
According to technical analysis by 10x Research, Bitcoin may rally to $83,000 as it forms an inverted head-and-shoulders pattern on the daily chart, with a potential breakout above $72,000 in the coming days or next week. Founder Markus Thielen projected the breakout to happen by Friday or Wednesday, driven by U.S. nonfarm payrolls data and potential Fed rate cuts. Weak data could lead to positive movement in cryptocurrencies and risk assets, with some banks anticipating a rate cut in July.
Source: YAHOO