10x Research updates the Bitcoin goal, and expects more bullish trend as BTC presses 106 thousand dollars

Bitcoin is close to the $ 106,000 mark, which caused a new interest in analysts at the 10x Institutional Research Company, who expect more upward trend.

According to market data, Bitcoin is trading at $ 104,272, indicating a marginal decrease of 1.29 % over the past 24 hours. This decrease comes after Bitcoin rises to $ 105,706, with a $ 106,000 teacher closed.

Despite the decrease, the increase of 10.47 % remains over the past seven days. Although price fluctuations are still fixed, the search platform 10x reports that the last gathering may only be the beginning of a wider direction.

The collapse is above 84,500 dollars in feelings

10x search I mentioned It turned into a rise on April 12-13 after Bitcoin erupted over the trend line of $ 84,500. At that time, the original was trading under the level of the descending resistance, and failed to exceed the main price points near 92,000 dollars and 94,213 dollars.

However, Bitcoin eventually formed a series of its lowest levels above April despite the direction of wider unification. It got out of the direction line in late April, and this was followed by a continuous escalating movement, confirming the reflection pattern.

At the penetration point, many technical signals have become favorable. The RSI (RSI) Index is a 50 % threshold, indicating the enhancement of momentum. It is worth noting that analysts also noticed a bullish difference between price movement and RSI readings, as Bitcoin printed the lowest level that RSI did not match.

This difference is in line with the company’s long -term strategy on the spread of calls, which was successfully performed as Bitcoin approached $ 106,000. It is worth noting that 10x research has now paid Bitcoin’s goal to the top, indicating that $ 106,000 is only Bitcoin Stepingstone. However, the company has hidden this new goal behind Paywall.

The overall conditions support the upward trend

Meanwhile, the modern observations conducted by 10x research indicate the changing market structure. The company attributes the potential transition to a set of total economic developments and increased demand through immediate markets.

Reducing the fears of inflation and strategic purchase in the assembly contributed. In addition, growth in trading options new dynamics for bitcoin price procedures. Pits such as bybit now provide options, which leads to the creation of traders to take advantage of fluctuations and hedge sites.

Also note that in a May 9 update10x traders have advised to keep the $ 100,000 calls operating in June, where it spreads in June from 110 thousand dollars – 120 thousand dollars. The recommendation also includes hedging through short functions in the S&P 500. This commercial setting reflects the expectations of the continuation of the upward trend in the short term.

Technical patterns indicate more bullish direction about 112 thousand dollars

During, According to To Crypto Basic, the current price setting indicates a 4 -hour graph to the outbreak of an expanded wedge style. The last upward increase was the highest level of 24 hours of $ 105,706 during the inspection of a parallel channel.

It is worth noting that the morning star style has appeared, and is often associated with hacking gatherings. However, despite the profit of prices, the relative strength index has not shown a similar increase in this time frame, indicating a possible difference in decline.

This lack of momentum may lead to a short -term test of the previously broken direction line. To make more gains, Bitcoin should be closed over the upper limits of the channel. If this is achieved, the price may target the R1 PIVOT resistance near $ 108,284, with the possibility of extending the R2 at 112,439 dollars.