Bitcoin's Critical Support Level Under Threat
After breaking below the $82,000 level, Bitcoin's price is rapidly approaching its next major technical support. Liquid Capital founder JackYi noted in recent analysis that the current pace of decline suggests this correction may extend further than many anticipate.
The $79,000 Line Hangs in the Balance
JackYi identifies $79,000 as the current focal support zone. However, judging by the momentum over the past two days, prices are likely to break below this level. Should that occur, market attention would quickly shift toward the $75,000 region.
"We've been watching this pullback from $86,000 for a while," he added. "Even with the expectation of a correction, we haven't taken short positions."
Navigating Corrections in a Bull Market
This approach stems from a clear trading philosophy: in established uptrends, pullbacks represent buying opportunities rather than reversal signals. JackYi emphasizes that the market structure remains bullish, with current volatility falling within normal parameters.
- Core Principle: Expect pullbacks in bull markets but avoid shorting
- Key Action: Wait patiently for the correction to complete
- Operational Focus: Accumulate positions at appropriate intervals
Regarding specific entry points, he offers practical advice: "Never try to guess the exact bottom in advance. Market conditions change by the minute. What we need are prepared strategies, not rigid predictions."
This perspective echoes the consensus among experienced traders—in trending markets, attempting to pinpoint precise turning points is often less effective than following the trend itself.