Bitcoin rose to above $59,000 in early European time, continuing its recovery from below $54,000 earlier in the week. 10x Research founder Marcus Thielen said the rally could see Bitcoin recapture $60,000, but it likely won’t last. “The $55,000 to $56,000 range forms a base from a technical analysis perspective. However, given the medium-term technical damage, we expect only a short-term tactical bullish countertrend upside,” Thielen wrote on Tuesday. At the time of writing, Bitcoin was trading just under $58,500, up 1.7% in the past 24 hours. The overall digital asset market, as measured by the CoinDesk 20 Index, was up about 1.65%.
