10x Research: Bitcoin may rise to $122,000 in February before entering another consolidation phase

PANews reported on January 22 that according to Cointelegraph, Markus Thielen, research director of 10x Research, said that Bitcoin may rise by 15% from the current price in a few days, but may then enter a consolidation phase. Thielen said in a market report on January 21 that Bitcoin “successfully retested its wedge breakout” after rallying from $98,937 to over $107,000. Thielen said Bitcoin’s price chart breakout signals a potential “low-risk, high-reward entry opportunity.”

Thielen said that since the U.S. approved a Bitcoin spot ETF a year ago, Bitcoin has shown a pattern of “rising in increments of $16,000 to $18,000,” suggesting that Bitcoin could reach $122,000 in February before “moving into another An integration phase”. Thielen added that potential gains may not stop here, and that “if this pattern continues, Bitcoin could not only reach $122,000, but could even trade above this level before revisiting it as support.” test".