Yi Lihua: This Bitcoin move isn't topping out—it's increasingly looking like the early stage of the 2020 bull market!
Yi Lihua said in a platform post that after BTC started its rally on August 17, it surged for five consecutive days. Then, starting August 22, it entered a correction phase, and it has since been consolidating for about 19 days.
In his view, this looks more like a normal “breather” during a bull-market advance rather than a complete trend reversal. Currently, BTC is mainly trading in the $76,300—$82,300 range, and $82,300 is the most critical resistance level at the moment.
His core message is also very straightforward: in a bull market, don't short lightly; focus on adjustments at the daily timeframe level.
Besides BTC, other local pockets of unusual movement have also appeared recently. On-chain RH assets, ZEC, and some trading-type tokens have started to rise. This market structure makes Yi Lihua think of the conditions during the early phase before the 2020 bull market kicked off.
Put simply, the market may feel a bit frustrating right now, but this kind of prolonged sideways consolidation isn't necessarily a bad thing. After a rise, price needs time to digest profit-taking, and it also leaves room for capital to redeploy.
If later BTC can break above $82,300 with increased volume, market sentiment could be reignited again. If it still can't get through, then investors need to keep guarding against continued range-bound choppiness—and even a pullback.
What is truly worth watching isn't whether it goes up or down “today,” but whether, after this round of adjustment ends, BTC can once again break to higher highs.
Yi Lihua said in a platform post that after BTC started its rally on August 17, it surged for five consecutive days. Then, starting August 22, it entered a correction phase, and it has since been consolidating for about 19 days.
In his view, this looks more like a normal “breather” during a bull-market advance rather than a complete trend reversal. Currently, BTC is mainly trading in the $76,300—$82,300 range, and $82,300 is the most critical resistance level at the moment.
His core message is also very straightforward: in a bull market, don't short lightly; focus on adjustments at the daily timeframe level.
Besides BTC, other local pockets of unusual movement have also appeared recently. On-chain RH assets, ZEC, and some trading-type tokens have started to rise. This market structure makes Yi Lihua think of the conditions during the early phase before the 2020 bull market kicked off.
Put simply, the market may feel a bit frustrating right now, but this kind of prolonged sideways consolidation isn't necessarily a bad thing. After a rise, price needs time to digest profit-taking, and it also leaves room for capital to redeploy.
If later BTC can break above $82,300 with increased volume, market sentiment could be reignited again. If it still can't get through, then investors need to keep guarding against continued range-bound choppiness—and even a pullback.
What is truly worth watching isn't whether it goes up or down “today,” but whether, after this round of adjustment ends, BTC can once again break to higher highs.
