10x Research: Bitcoin may rise to $122,000 in February and then enter a consolidation period

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ODAILY
01-22
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Odaily reports that Markus Thielen, head of research at 10x Research, says Bitcoin may rise 15% from the current price in a few days, but may then enter a consolidation phase. Thielen stated in a market report on January 21 that Bitcoin "successfully retested its wedge breakout" after rebounding from $98,937 to over $107,000. Thielen said the price chart breakout signals a potential "low-risk, high-reward entry opportunity." Thielen said that since the US approved the Bitcoin spot ETF a year ago, Bitcoin has shown a "16,000 USD to 18,000 USD upward trend," suggesting Bitcoin may reach $122,000 in February before "entering another consolidation phase." Thielen added that the potential upside may not stop there, and "if this pattern continues, Bitcoin may not only reach $122,000, but could also trade above that level and then retest it as support." (Cointelegraph)

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