TechFlow news, according to 10x Research analysis, Bitcoin attempted a rebound yesterday but failed to break above the triangle pattern. However, with changing election odds and a slightly favorable risk appetite environment, Bitcoin may attempt another breakout. The analysis points out that three reversal indicators all show strong rebound momentum, surpassing its slow moving average—a positive signal of improving market technicals. Nevertheless, significant risks remain that could lead to a pullback later in September, though a recovery by year-end remains possible.
In the derivatives market, long exposure in perpetual contracts is limited, Ethereum open interest remains relatively stable, while Bitcoin's small short positions could be liquidated, potentially pushing prices higher. Analysts believe a rebound toward $65,000 is within reach, but close attention should still be paid to the direction of the triangle breakout, as risk management remains crucial.
