According to ChainCatcher, 10x Research analyst Markus Thielen released a report saying that Bitcoin continues to show high risk/reward potential. After falling from the highs in March and April, the analyst team turned to a tactical bullish stance. On September 9, when the price of Bitcoin was $54,800, the report pointed out that multiple technical indicators showed oversold, suggesting that the market may rebound.

The report emphasizes that if Bitcoin breaks through the downward trend line and stabilizes the 21-week moving average ($60,996), the upward trend will be clearer and may even hit $65,000. It is worth noting that trading signals show that long positions have increased to 70%, and Bitcoin and Ethereum may provide attractive buying opportunities in the next 2 to 3 months.