Cryptocurrency analysis company 10x Research has evaluated the current technical outlook of Bitcoin in its latest report. The company announced that a major movement is expected for Bitcoin in the near future. 10x Research reminded that in its report dated February 4, they detected a “Diamond Top” formation when Bitcoin was trading at $ 100,000 levels and warned investors against an impending correction. Stating that this formation was confirmed by the breaking of the critical $ 95,000 support, the company argued that this level was an important trigger from a technical perspective. Noting that Bitcoin broke not only the $95,000 level but also the realized cost price of short-term investors on February 25, 10x Research stated that this triggered a liquidation wave. Stating that the risk of decline increased with the transformation of the technical structure into a “rising widening wedge” formation, the company had predicted a target of $73,000. Bitcoin fell to a level very close to this estimate, falling to $74,400 shortly thereafter. Related News: What Could Happen to the Price if the XRP Spot ETF Is Approved? Analysis Company Warns Based on Past Examples 10x Research, which reported that they took an upward position again when Bitcoin was traded at $85,322 as of April 13, announced that technical indicators pointed to a 10% increase. Regarding the current situation, 10x Research reported that Bitcoin has risen to the $94,000–$95,000 region again, but is struggling at this critical resistance. The company said that in order for Bitcoin to make a strong break above this level; there should be an increase in transaction volumes, growth in stablecoin supply, changes in implied volatility, and significant improvements in general liquidity flows. The critical question now is: “Has there been a strong enough turnaround in these fundamental indicators of market structure, or has the technical recovery peaked, setting Bitcoin up for a sharp pullback as macro and tariff risks increase?” *This is not investment advice. Continue Reading: Company Claiming Its Previous Bitcoin Predictions Were Accurate Shares Its Expected New BTC Movement
