Jiang Zhuoer, founder of BTC.TOP mining pool, said in a post that Bitcoin’s recent price action is matching one of the scenarios he had outlined earlier. In his view, the market is following a path in which BTC first tests the 83k-84k area, which he described as a strong resistance zone, and then enters a larger pullback. He also said the current structure does not look like the final top yet. Based on that reading, Jiang said he is staying on the sidelines rather than opening a short position. He added that he is holding a full spot ETH position and waiting for further upside. The remarks were reported by ChainCatcher.
According to ChainCatcher, BTC.TOP mining pool founder Jiang Zhuoer said in a post that Bitcoin is moving in line with one of the scenarios he had shared earlier: BTC first "tests the 83k-84k high-resistance area, and then starts a major pullback."
Jiang also said, "With this kind of pattern, this is not the highest point yet. I’m watching for now and not shorting. I’m holding a full spot ETH position and waiting for it to rise."
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
