BTC Rebounds to $65,000 Price Coming Soon!

Bittime - Market analysis shows Bitcoin has a high chance of rebounding to $65,000 in the near future. Find the technical and macro factors that support this rise.

BTC Rebounds to $65,000 Price

In recent days, Bitcoin has become a major concern of crypto market analysts. A recent report from in-depth TechFlow News shows that 10x Research analysis shows that Bitcoin attempted a comeback yesterday.

But it did not manage to get past the triangle pattern which has limited its movement. However, there seems to be a positive indication that Bitcoin's attempt to return to $65,000 may be imminent.

Election Opportunities and Risk Environment

Bitcoin investors have been feeling better after a change in election odds and a small increase in risk appetite. 

This condition could be the main catalyst that drives Bitcoin to try again to break out of the triangle pattern that previously held it back.

Also Read: Binance Labs Invests in Corn to Increase Bitcoin's Utility in DeFi

Strong Reversal Indicator

Currently, three major reversal indicators suggest that there is considerable impetus for recovery. Even this speed has surpassed Bitcoin's slow moving average, indicating technical improvement in the market. 

Analysts see this as a golden opportunity for Bitcoin to strengthen its position, potentially pushing the price back to $65,000.

Bitcoin Risks in September

Despite positive indications, analysts warn of the potential for significant danger that could lead to a pullback in September. 

This month should be watched closely due to the high volatility of the crypto market. Despite this, there is a strong belief that Bitcoin will recover before the end of the year, provided risks are well controlled.

Derivatives Market and the Potential for Bitcoin Price Strengthening

In the derivatives market, there is little long exposure to Bitcoin perpetual contracts, but open interest in Ethereum remains stable. Additionally, small Bitcoin short positions may be unwound, potentially increasing Bitcoin prices. 

Conclusion

Although the market is full of uncertainty, investors should observe careful risk management, as there is a lot of technical and macro evidence to support that Bitcoin has a great chance of making a big rebound towards $65,000 in the near term. 

This rebound could be an important turning point for Bitcoin, especially if it can break through the strong resistance that has been holding it back for so long.

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Monitor graphic movement of Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL), and other cryptos to find out today's crypto market trends in real-time on Bittime.