10xResearch said in its latest analysis that Bitcoin tried to rally yesterday but failed to break out of the triangle pattern. However, with the changing election odds (this chart is a must-see) and a slightly more favorable risk appetite environment, Bitcoin could try to break upwards again. Still, there are significant risks that could lead to a correction in late September and then a potential rally before the end of the year. All three reversal indicators are showing a strong rally with momentum above their moving averages, an encouraging sign of improving technical conditions in the market. The possibility of a rise to $65,000 is in the range. However, we will keep a close eye on the direction of the triangle breakout. Risk management remains critical. As expected, long positions in perpetual contracts are limited following the sharp decline following the August 5 crash. Unpositioned squaring contracts in Ethereum remain relatively unchanged, while small short positions in Bitcoin may be positioned squaring, driving prices up. On a positive note, derivatives positions are no longer over-stretched, unlike in late July, when excessive leverage led to an inevitable pullback.