Research Director: If 2 support levels are maintained, traders can continue to look for tactical rebound opportunities.

Gate News bot news, according to CoinTelegraph, Markus Thielen, head of research at 10x Research, stated in a report that as long as Bitcoin (BTC) remains above the short-term realization price of $98,000 and the trend support level of $102,000, “traders can continue to look for tactical rebound opportunities.”

However, he warned that falling below this range “would shift the focus to risk management, especially in the absence of strong upward catalysts.”

Bitcoin has been in a consolidation phase for five weeks. Due to short-term macroeconomic shocks (from the tariff issues in May to the escalation of tensions between Israel and Iran in June), Bitcoin has attempted to break through the $110,000 mark three times, all of which have failed.

“These events emphasize that Bitcoin does not serve as a hedge against risks in the current environment.”

Thielen expects that Bitcoin will trade sideways for several months. “Our view is that we will consolidate during the summer,” he said.