Two-Way Scenario for Bitcoin (BTC) from a Chinese Founder: “First $84,000, Then…”

Jiang Zhuoer, one of China’s most well-known cryptocurrency miners and the founder of BTC.TOP, has offered his current assessment of Bitcoin.

Bitcoin Analysis from Jiang Zhuoer!

Jiang Zhuoer, in a post from account X, stated that Bitcoin’s current uptrend has not yet ended, but a significant correction in the market may be on the horizon.

Jiang stated that Bitcoin could rise to the $83,000-$84,000 range before pulling back.

The renowned analyst also noted that Bitcoin is still moving within an upward channel. However, Zhuoer stated that a correction is possible following the current rise.

Zhuoer added that if the $82,300 level is the pre-correction peak, the pullback will be prolonged, followed by frustrating sideways trading with wide price fluctuations.

Watch Out for the $72,000 Level!

Jiang states that his base scenario is for Bitcoin to first test the $83,000-$84,000 region, and then retreat to around $72,000. Indeed, Zhuoer had previously announced a few days ago that he closed his Bitcoin position at around $82,050 and considered the $83,000-$84,000 region a significant resistance area.

In conclusion, it should be remembered that this assessment is Jiang’s personal opinion and Bitcoin could move in a different direction.

*This is not investment advice.