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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.