Jack Yi, founder of cryptocurrency investment firm LD Capital, predicted that Bitcoin (BTC) could rise to $82,600 after recovering from around $75,700. Yi stated that this level constitutes a critical resistance for short-term price movements.
According to Jack Yi’s assessment, Bitcoin has been in a downward correction phase for approximately 40 days, starting from September 22nd.
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During this period, the BTC price retreated towards the lower boundary of the downtrending channel, reaching approximately $75,700.
Yi stated that Bitcoin experienced a rapid recovery after touching the descending trend line in this region.
According to the founder of LD Capital, if the current recovery continues, the Bitcoin price could move towards the $82,600 level, which corresponds to the upper end of the descending channel.
However, Yi stressed that it is not yet clear whether this rise signals a permanent trend reversal.
The analyst stated that confirmation that the current correction process has ended is needed to assess Bitcoin’s future direction.
In this context, whether or not the $82,600 resistance level can be overcome stands out as an important indicator for the short-term outlook of the market.
Yi also stated that macroeconomic conditions in the US are a key variable determining the direction of the cryptocurrency market.
Therefore, he said, investors should pay attention not only to technical price levels but also to developments in the US economy.
According to Jack Yi, Bitcoin breaking above the $82,600 resistance level could signal that the current recovery is strengthening.
However, the failure to break above this level could keep the possibility that the downward correction is not entirely over in mind.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/new-analysis-from-ld-capital-82-600-resistance-stands-out-in-bitcoin-here-are-the-details/" rel="noopener noreferrer nofollow">New Analysis from LD Capital: $82,600 Resistance Stands Out in Bitcoin! Here Are the Details</a>

New Analysis from LD Capital: $82,600 Resistance Stands Out in Bitcoin! Here Are the Details

Bitcoin Sistemi EN

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