Jiang Zhuoer, one of China’s most well-known cryptocurrency miners and the founder of BTC.TOP, has offered his current assessment of Bitcoin.
Bitcoin Analysis from Jiang Zhuoer!
Jiang Zhuoer, in a post from account X, stated that Bitcoin’s current uptrend has not yet ended, but a significant correction in the market may be on the horizon.
Jiang stated that Bitcoin could rise to the $83,000-$84,000 range before pulling back.
The renowned analyst also noted that Bitcoin is still moving within an upward channel. However, Zhuoer stated that a correction is possible following the current rise.
Zhuoer added that if the $82,300 level is the pre-correction peak, the pullback will be prolonged, followed by frustrating sideways trading with wide price fluctuations.
Watch Out for the $72,000 Level!
Jiang states that his base scenario is for Bitcoin to first test the $83,000-$84,000 region, and then retreat to around $72,000. Indeed, Zhuoer had previously announced a few days ago that he closed his Bitcoin position at around $82,050 and considered the $83,000-$84,000 region a significant resistance area.
In conclusion, it should be remembered that this assessment is Jiang’s personal opinion and Bitcoin could move in a different direction.
*This is not investment advice.
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Disclaimer: The market is risky, and investment needs to be cautious. This article does not constitute investment advice. Users should consider whether any opinions, views, or conclusions in this article are in line with their specific circumstances. Investment based on this is at their own risk.