Chinese CEO Says There’s One Last Level for Bitcoin to Confirm the Bull Market

Yi Lihua, founder of Liquid Capital, stated that a bull market trend has begun in Bitcoin following the recent pullback, and investors should closely monitor the $86,000 level.

According to Yi Lihua, Bitcoin’s drop to $76,300 signified a test of a significant support zone, and the rebound from that level was in line with expectations. The renowned investor stated that he expects the price to continue its upward trend after these pullbacks.

Yi Lihua stated that the next major resistance level for Bitcoin is around $86,000, and that a failure to strongly overcome this area could lead to a new correction in the market. He noted that in such a scenario, investors might consider potential pullbacks.

Yi Lihua, while noting that market conditions can constantly change, remained optimistic about the overall outlook. The Liquid Capital founder argued that current price movements indicate the start of a new bull market trend in Bitcoin.

Yi Lihua had previously stated in his assessment that after Bitcoin failed to break through the $81,000 resistance level a few days ago, he expected the price to retreat to the $75,500-$76,000 region. He indicated that he anticipated a renewed rise after this region was tested, and pointed to $86,000 as the next target and resistance zone.

*This is not investment advice.