10x Research: Bitcoin may further retrace to $55,000

ChainCatcher news, 10x Research has released a latest report stating that Bitcoin may further pull back to $55,000. Analyst Markus Thielen indicated that the weekly and monthly reversal indicators for Bitcoin suggest a broader pullback. Although the Bitcoin price remains above $60,000, the weekly RSI peaked in early March and has begun to decline. The monthly indicators are similar to previous peaks, such as in January 2018 and May 2021.