Bitcoin Poised for $83K Surge, Analyst Predicts

Based on technical analysis, 10x Research projects a surge in Bitcoin's price to $83,000. This bullish forecast aligns with the formation of an inverted head-and-shoulders pattern on the daily chart. A breakout above $72,000 would confirm this pattern, signaling a bullish reversal of the trend. The timing of the breakout is anticipated to occur on Friday, June 7th, or Wednesday, June 12th. The upcoming U.S. nonfarm payrolls data, expected to influence Fed rate cut expectations, may bolster this upward momentum in risk assets including cryptocurrencies.