Last week, due to three consecutive days of net outflows from Bitcoin spot ETF, Bitcoin experienced a significant price correction after reaching a new high. However, in recent days, Bitcoin has shown a trend of stabilizing and rebounding.
Markus Thielen, an analyst at 10x Research, pointed out in an analysis video released last night that the price level of $68,330 is crucial for the future trend of Bitcoin, as it was the starting point for the last time Bitcoin set a new high.
In this regard, Markus Thielen believes that from a technical perspective, the trend of Bitcoin has gradually formed a head and shoulders pattern. If Bitcoin can break through and stabilize above the $68,330 level, there is a great chance it will directly surge towards the next historical high target of $83,000, or even surpass the $100,000 mark.
