Li Hua Yi: Bitcoin has ended its bearish trend and is expected to continue rising in the next two weeks

Liquid Capital (formerly LD Capital) founder Yi Lihua stated that since May, after judging that the rebound had ended, he has mainly focused on one thing over the past two months: that July to August may be the last opportunity to bottom out in this round of BTC. With Bitcoin's daily level strongly breaking through the 120-day moving average and the 200-day moving average, while also breaking through the 20-week moving average at the weekly level, the BTC bear market trend has officially ended.

He mentioned that the market is still bullish in the next two weeks, but after rising to a certain position, a pullback may still occur. The subsequent pullback will not exceed 50% of the upward movement. If investors use leverage, it is recommended to reduce long positions and refer to the weekly trends and pullback amplitudes during the 2023 upward cycle. This round of Bitcoin has dropped from a high of $126,000 to $57,000, with a maximum drop of about 56%. He believes that this drop has formed a cyclical low point, and it will be difficult for the market to see BTC prices starting with $50,000 again.