Garrett Jin, described in the source as the agent of the "BTC OG insider whale," shared a market view on Sept. 13 saying Bitcoin bulls are in a difficult position. He said BTC has been stuck above $76,500 and that he does not like the current grinding price action. In his view, the longer this type of bottoming pattern drags on, the greater the chance that support will give way and price will move down to seek a lower support level instead of reversing quickly. Jin also said Bitcoin would need to reclaim and hold $78,300 at a minimum to look stronger. The remarks were cited by BlockBeats as a market opinion rather than a confirmed market event.
BlockBeats reported on Sept. 13 that Garrett Jin, identified by the source as the agent of the "BTC OG insider whale," shared a market view saying Bitcoin bulls are not in a favorable position right now.
Jin said BTC has been pinned above $76,500, adding that he does not like this kind of grinding bottoming action. In his view, the longer that process lasts, the more likely it is to break this support and search for a lower support level instead of reversing immediately.
He added that if Bitcoin is to look stronger, it first needs to reclaim and hold $78,300.
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