TechFlow news: 10x Research stated that it is only a matter of time before Bitcoin hits a new all-time high. The head and shoulders pattern suggests Bitcoin could soon rise to $83,000, with a breakout above resistance expected in the coming days—ideally today (June 7) or next Wednesday (June 12). It expressed an optimistic outlook. Global central banks have begun a easing cycle, with Canada, Denmark, and Europe cutting rates this week. As U.S. growth, employment, and consumer spending weaken, a slowdown in inflation is also just a matter of time.
Although the Fed's history of rate cuts ahead of presidential elections is limited, market expectations for lower rates are supporting risk assets, and Bitcoin is expected to reach a new high.
However, if Bitcoin fails to achieve a new high, it may be due to a sharp decline in Ethereum's price.
In addition, 10x Research is watching Ethereum’s support level at $3,725 and emphasized the need to consider various scenarios and plan ahead.
