10x Research: Bitcoin may attempt to break through again and rise to $65,000, the market technical aspect is improving

Odaily reports that 10x Research stated in its latest analysis that Bitcoin attempted a rebound yesterday, but failed to break through its triangular structure. However, with changes in election odds and a slightly favorable risk environment, Bitcoin may attempt another breakthrough. Despite this, significant risks are still looming which could lead to a pullback later in September and possibly a rebound before the end of the year.
Our three reversal indicators all show strong rebounds, momentum surpassing their slower moving averages - an encouraging sign indicating market technicals are improving. A rise for Bitcoin towards $65k is achievable. Nevertheless, we will closely monitor the direction of the triangle breakout. Risk management remains crucial.
As expected after the sharp drop around August 5th crash, long exposure on perpetual futures contracts was limited. Ethereum's open positions remained relatively unchanged while small short positions on Bitcoin might be covered which could push up Bitcoin's price. The good news is derivative positions are no longer overly expanded as they were in late July when over-leveraging adjustments were inevitable.