Liquid Capital founder JackYi said on X that Bitcoin has lost the $82,000 level and now faces its next support at $79,000. Based on the pace of the decline over the past two days, he said the current pullback is far from over and that he is leaning toward a move below $79,000, after which the market would need to watch the $75,000 area.
JackYi also said his team had been watching the pullback from $86,000 for some time but did not open short positions. In his view, the broader market is still in a bull trend, and the current decline falls within the range of normal volatility during a bull market. He described his approach as watching pullbacks in a bull market without shorting them, and waiting patiently for the correction to run its course before considering buying the dip. On entry levels, he said traders should not guess in advance because market conditions and the broader environment keep changing.
Liquid Capital founder JackYi said in a post on X that Bitcoin has fallen below $82,000, with the next support level at $79,000.
He said that, judging by the speed of the decline over the past two days, the current pullback is "far from over," and that he currently leans toward Bitcoin breaking below $79,000. If that happens, he said the next area to watch would be around $75,000.
JackYi added that although his team had been watching the pullback from $86,000 for some time, they did not take short positions because he still views the market as being in a bull trend. He said the correction should be seen as normal volatility within a bull market. Describing his approach, he wrote that in a bull market he watches pullbacks but does not short them, and instead waits patiently for the correction to reach its end before considering buying the dip. On the question of where to buy, he said: "Never guess the bottom price in advance, because the market and the environment are changing all the time."
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