10x Research: Bitcoin and Ethereum may offer attractive buying opportunities in 2-3 months

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ODAILY
09-20
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Odaily Odaily News: Well-known crypto research institution 10x Research published an article on the X platform stating that Bitcoin remains one of the most attractive assets in terms of risk/reward potential. Since warning of downside risks after Bitcoin's March-April peak, the agency has taken a tactical optimistic stance after Bitcoin's sharp decline. Several reports released previously support its more optimistic outlook for Bitcoin's surge. In addition, a breakout of Bitcoin's downward trend line could indicate stronger upward momentum, potentially allowing Bitcoin to exceed the 21-week simple moving average ($60,996), a key indicator for determining whether it is in a bull market (above) or a bear market (below). A breakout of this level sets the target at $65,000 (now within reach). It is worth noting that the current trading signal has increased long positions to 70% of net long positions for the first time. Based on historical pattern analysis, this shift suggests that Bitcoin and Ethereum may offer attractive buying opportunities next, with a time span of 2-3 months.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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