Yi Lihua said in a post on X that Bitcoin rose for five straight days after beginning its latest advance on Aug. 17, then entered a pullback phase from Aug. 22 that has lasted about 19 days. He described the move as a normal correction within a broader upswing rather than a break in trend. According to his post, Bitcoin is currently trading in a range between $76,300 and $82,300, with resistance around $82,300.
Yi added that, under a bull-market trend, he is not looking to short Bitcoin and is watching daily-chart adjustments closely. Beyond the broader market, he also pointed to localized gains in RH on-chain assets, ZEC operator-driven tokens, and trading-oriented tokens in recent days. In his view, the current setup is close to the early phase of the 2020 bull market. The comments were reported by Odaily.
Yi Lihua said in a post on X that Bitcoin has been in a roughly 19-day correction after starting a rally on Aug. 17 and posting gains for five consecutive days.
He described the move, which began on Aug. 22, as a normal pullback within an ongoing advance. In his post, Yi said Bitcoin is currently trading between $76,300 and $82,300, with upside resistance around $82,300.
On positioning, he said he is not shorting in a bull-market trend and is closely watching adjustments on the daily chart.
He also said that, aside from the broader market, RH on-chain assets, ZEC operator-driven tokens, and trading-oriented tokens have seen localized gains recently. In his view, current signals are close to the early stage of the 2020 bull market.
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