10x Research: It is expected that Bitcoin will fall back to a trading range of $50,000 to $60,000

ChainCatcher message, 10x Research released a report stating that Bitcoin is expected to fall back to a trading range of $50,000 to $60,000. The rebound after the crash on August 5 will likely stall near the resistance zone between $60,000 and $61,000. This slowdown may allow oversold technical indicators to reset, increasing the likelihood that Bitcoin could retest the low around $50,000 from August 5, a move that would catch many off guard. There are still profit opportunities in the cryptocurrency market, but the timing is not ideal.