Crypto Investors in Southeast Asia Will Soar 12.7% by the End of 2024

Previously, analysts predicted that the value of Bitcoin could reach up to USD 83,000 or the equivalent of IDR 1.35 billion. The highest figure in history is predicted to occur next week.

Founder of 10X Research, Markus Thielen, said this increase could occur after a daily bullish trend in Bitcoin price movements. According to him, price movements above USD 72,000 will confirm the trend towards the highest figure in history.

“It's only a matter of time until Bitcoin reaches a new all-time high. The head-and-shoulders formation indicates an imminent rally towards USD 83,000, with the resistance line likely to be broken in the next few days,” said Markus, citing Yahoo Finance, Friday (7/6/2024).

He predicts that this increase will likely be seen from June 7, 2024. And, it could reach its peak on June 12 2024, next week.

“The ideal time to break through this resistance is today, Friday, June 7, or next week, Wednesday, June 12,” explained Markus Thielen.

According to technical analysis theory, an inverted head-and-shoulders pattern usually forms after a downtrend and reverses an upward trend after a breakout. This pattern rarely appears in uptrending markets, signaling bullish continuation.

A break above USD 72,000 depends on the US nonfarm payrolls data scheduled for release on Friday at 12:30 UTC.