Yi Lihua, founder of Liquid Capital, said Bitcoin has yet to break through resistance around $81,000. He expects a modest pullback in the coming days before prices push higher and clear that zone, with the next key resistance near $86,000. He plans to close his long positions as Bitcoin approaches that level because a larger correction could follow. Still, he believes the bull market has already arrived; even if prices enter a resistance area and turn bearish short-term, he would only exit longs, not build shorts.
ChainCatcher reports that Yi Lihua, founder of Liquid Capital, shared his latest outlook on Bitcoin. He noted that Bitcoin has so far failed to break through the resistance level near $81,000. In his view, a modest pullback is likely over the next few days, after which the price should continue higher and break above this area. The next resistance to watch is around $86,000.
Yi said he plans to close out his long positions when Bitcoin climbs to approximately $86,000, because that level could bring a relatively sharp correction. However, he remains convinced that the bull market has already begun. Even if the price enters a resistance zone and the short-term view turns bearish, he would only reduce longs and would not establish short positions.
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