TechFlow reports on September 10 that cryptocurrency research firm 10x Research has released a new market analysis, indicating that Bitcoin's price has rebounded as expected in its Monday market update, following last week's sharp decline. Bitcoin is currently up 6%, reaching $57,600—approaching the previously forecast target of $58,000. 10x Research emphasized that Bitcoin trading has become more challenging amid the current lack of a clear bull market. On-chain analysis shows that bull cycles have shortened, yet opportunities still exist for disciplined traders who can accurately anticipate macro events and adapt to the evolving Bitcoin market structure.
The firm stated that this rebound prediction is based on three key factors: extreme bearish sentiment, recovery of reversal indicators, and upcoming tactical catalysts. Two out of three reversal indicators have recovered from severely oversold levels, suggesting potential for a short-term and counter-trend bounce. Meanwhile, 10x Research believes these upcoming catalytic events could force bearish traders to cover their positions, while others may establish new bullish positions around these events.
