10x Research: Two Bitcoin reversal indicators have recovered from severely oversold levels, suggesting a potential short-term rebound

ChainCatcher news, cryptocurrency research institution 10x Research has released its latest market analysis report, indicating that Bitcoin prices have rebounded as expected in its Monday market update, following a sharp decline last week. Currently, Bitcoin prices are up 6%, reaching $57,600, close to the previously predicted target of $58,000. 10x Research emphasizes that trading Bitcoin has become more challenging in the current environment lacking a clear bull market. On-chain analysis shows that the bull market cycle has shortened, but there are still opportunities for disciplined traders who can accurately predict macro events and adapt to the ever-changing Bitcoin market structure.

The institution states that this rebound prediction is based on three key factors: extreme bearish sentiment, the recovery of reversal indicators, and upcoming tactical catalysts. Among these, two of the three reversal indicators have recovered from severely oversold levels, suggesting the possibility of a short-term rebound and counter-trend rally. Meanwhile, 10x Research believes that these upcoming catalytic events may force bearish traders to close their positions, while other traders may establish new bullish positions before and after these events.