Just when Bitcoin is rising, it will fall again: First 60 thousand, then bad!

Markus Thielen, founder of 10x Research, made a prediction regarding the Bitcoin (BTC) price.

Markus Thielen expressed his opinions on the Bitcoin price in the market update he shared on Tuesday, July 9. Stating that the price is trying to establish a basis in the range of 55,000-56,000 dollars, the analyst stated that the increases may remain short-term.

First 60 thousand dollars, then 50 thousand dollars or less!

He stated that the medium-term danger is not over yet and that strong closings above at least 60 thousand dollars are required to confirm this, and if this is not achieved, declines to 50 thousand dollars and perhaps below may be seen.

Gulu predicted that the rise could last for a while if closings were achieved, but the rally would be short-lived:

The $55,000-$56,000 range provides a baseline for technical analysis. However, given the medium-term technical damage, we do not expect more than a short-term tactical uptrend rally. We predict that Bitcoin could rise to around $60,000 before experiencing another decline to the low $50,000 range, creating a complex trading environment.

According to CoinGecko data, Bitcoin, which has increased by 2% in the last 24 hours, is traded at $ 59,000 at the time of writing.

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