10x Research: Bitcoin will soon rebound to 83,000, and the resistance line is likely to be broken in the next few days

10x Research posted that it's only a matter of time before Bitcoin hits a new historical 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 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, which was confirmed by rate cuts in Canada, Denmark and Europe this week. With weakening U.S. economic growth, employment and consumer spending, inflation slowdown is just a matter of time. Although the Federal Reserve has only cut interest rates once during May-November ahead of U.S presidential elections over the past 30 years , risk assets mainly depend on market expectations for rate cuts rather than actual rate cuts. This makes us generally optimistic about risk assets; we expect Bitcoin will hit a new historical high. However if Bitcoin fails to achieve sustainable new highs,the reason might be due to Ethereum's significant price drop as we pointed out earlier this week.We are monitoring support at 3,725.As traders and market analysts we must consider every scenario and think ahead.