Yi Lihua: Bitcoin has ended the bear market trend and will continue to be bullish for the next two weeks

Comparing news, Liquid Capital (former LD Capital) founder Yi Lihua wrote that after judging that the rebound ended in May, it has focused on one thing in the past two months, that is, July to August may be the last chance for BTC to bottom out in this round. With Bitcoin's daily level breaking through the 120-day EMA and 200-day EMA while the weekly level breaches the 20-week EMA, the BTC bear trend has officially come to an end.

He said that the market is still bullish for the next two weeks, but there may still be a correction after rising to a certain position. The subsequent pullback will not exceed 50% of the increase. If investors use leverage, it is recommended to reduce multiple positions and refer to the weekly trend and correction margin during the 2023 upward cycle.

Bitcoin fell from a high of $125,000 to $57,000 in the current round, with the biggest drop of about 56%. It believes that this decline has formed a cyclical low, and it will be difficult for subsequent markets to see the BTC price starting at $50,000 again.