Jiang Zhuo’er (江卓尔), founder of Chinese mining pool BTC.TOP, said he expects Bitcoin could rise further to $83,000–$84,000 before correcting toward around $72,000.
In a post on X on the 9th, Jiang said Bitcoin has so far been moving within an ascending channel, but he expects a subsequent correction to be difficult to avoid.
He explained that if $82,300 is confirmed as the high before this correction, the correction period could be considerably prolonged, potentially leading to a sideways market in which prices repeatedly move up and down within a broad range.
Jiang said he currently places greater weight on a scenario in which Bitcoin first rises to the $83,000–$84,000 range before correcting to around $72,000.