Apr 8, 2024

A technical analysis by 10x Research predicts that bitcoin could soon rally to new record highs of $80,000 after breaking through a so-called triangle resistance.

Video transcript

The chart of the day is presented by crypto.com, the leading crypto platform trusted by over 80 million users worldwide. Let's take a look at the chart of the day. Bitcoin could soon rally to new record highs after breaking through a so called triangle resistance. That's according to a technical analysis by 10 X research Bitcoin shop passed $72,000 this morning, passing through a triangular consolidation pattern identified by a resistance line connecting March 15th and 27th highs and the support line connecting March 20th and April 3rd lows Tenex research founder Marcus Thalen said if the breakout is bullish, Bitcoin could climb above $80,000 during the next few weeks. The breakout comes on the heels of a hotter than expected non-farm payrolls report that highlighted the US economic resilience, spurring risk taking across all corners of the financial market. That's it for today's chart of the day. I'm Jen Sani. We will see you next time to unpack more of the data behind top news stories.

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