Liquid Capital founder Yi Lihua said the market remains bullish and described the current move as a normal correction rather than a change in trend. According to his remarks, Bitcoin began rising on Aug. 17 and posted five straight days of gains before entering a correction phase on Aug. 22, which has now lasted about 19 days. He said this period fits a typical upward-sloping consolidation seen during a broader advance.
Yihua placed Bitcoin’s current trading range between $76,300 and $82,300, calling it a wide $6,000 consolidation zone, with resistance near $82,300. He also argued that no bull market moves straight up in a single line and said traders should avoid shorting in a bull trend while closely watching daily-chart corrections.
Beyond the broader market, he pointed to localized bullish action in Robinhood on-chain activity, ZEC operator-driven tokens, and trading-oriented tokens. In his view, the combination of those signals resembles the eve of the explosive 2020 bull market.
On Sept. 9, Liquid Capital founder Yi Lihua said he remains bullish on the current market and described the latest pullback as a normal correction within a broader bull run.
Yi said Bitcoin started its climb on Aug. 17 and rose for five consecutive days. He added that the market entered a correction phase on Aug. 22, a stretch that has now lasted about 19 days.
Bitcoin seen in a broad consolidation range
He said the move is a normal upward-sloping correction during an advance, with Bitcoin trading in a wide $6,000 range between $76,300 and $82,300. He put resistance at about $82,300.
Advice: do not short in a bull trend
Yi said no bull market rises in a straight line and that conditions change constantly. Based on that view, he highlighted two points:
- Do not short during a bull-market trend.
- Watch daily-chart corrections closely.
Robinhood on-chain activity and some tokens also noted
Beyond the broader market, Yi said Robinhood on-chain activity, ZEC operator-driven tokens, and trading-oriented tokens have recently shown signs of localized bullish momentum.
He added that all of those signs make the current setup look very similar to the eve of the explosive 2020 bull market.
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.
