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

10x Research has released a new report stating that Bitcoin may further retract to $55,000. Analyst Markus Thielen stated that the weekly and monthly reversal indicators of Bitcoin suggest a broader pullback. Although the price of Bitcoin remains above $60,000, its weekly RSI peaked in early March and has been declining since then. The monthly indicator is similar to previous peaks such as January 2018 and May 2021.