Jiang Zhuoer stated that the bull market is still ongoing and believes that the 57,758 USD in July was the low point of this bear market.
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Jiang Zhuoer stated that the bull market is still ongoing and believes that the 57,758 USD in July of this year was the low point of this bear market.
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Jiang Zhuoer: The bull market is still here, July 57758 USD is the lowest point of this bear market
BlockBeats news, November 11, Litecoin Pool founder Jiang Zhuoer posted that there is no doubt the bull market is still here, a large number of on-chain indicators and long-term indicators all indicate that the bear market has ended, and July of this year's 57758 USD is the lowest point of this bear market. The only question now is where this round of decline will finally stop, whether it is the 50% Fibonacci retracement level of 72500 USD, or the 61.8% retracement level of 69000 to 70000 USD.
Jiang Zhuoer also reviewed recent operations. Previously, after the Binance hack, he bought the dip in small DeFi coins at 76600 USD, which from the perspective of a spot long-term position intended to be held for 3 years is no problem, getting on board in the early stage of a bull market and pursuing vague correctness, a certain degree of drawdown can be tolerated. But he also stated that one should not at the same time go all-in long on Bitcoin, such short-term trading should have greater patience, at least after the November 5 rebound to 80500 USD, one should take profit during the slow decline from the high. Jiang Zhuoer plans to reduce mixing long-term and short-term, long and short trading in the future, first exit and wait for the trend to play out, if it further drops to 70500 USD, he will close the 73000 USD hedge short position.
Original link https://m.theblockbeats.info/flash/376822
Key points
01
According to BlockBeats, on November 11, Jiang Zhuoer posted that the bull market is still ongoing.
02
Jiang Zhuoer stated that a large number of on-chain indicators and long-term indicators all indicate that the bear market has ended.
03
Jiang Zhuoer stated that the 57,758 USD in July of this year was the lowest point of this bear market.
04
Jiang Zhuoer suggested that the decline could stop at the Fibonacci 50% retracement level of 72,500 USD, or the 61.8% retracement level of 69,000 to 70,000 USD.
05
Jiang Zhuoer stated that after the previous Binance hack, he bought the dip in DeFi small-cap coins at 76,600 USD, and believes that from a 3-year spot long-term holding perspective, there is no problem.
06
Jiang Zhuoer stated that one should not go all-in long on Bitcoin at the same time; he believes short-term trading should be more patient, and said that at least after the rebound to 80,500 USD on November 5, when prices slowly declined from highs, one should have taken profits.
07
Jiang Zhuoer stated that he plans to reduce mixing long and short-term, long and short trading, and will first exit the market to wait for the trend to complete; if it further drops to 70,500 USD, he will close the hedge short position at 73,000 USD.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This is a retelling of Jiang Zhuoer's personal market judgment and trading review. He is optimistic about the continuation of the bull market, but also discussed possible decline levels and explained his own trading plan. The views and price levels in the article are his judgments and do not represent verified market conclusions.
Why it matters to readers
This statement demonstrates the same trader's distinction between long-term bullishness and short-term risk control, and also provides the price levels he is watching and his hedging arrangements; it cannot be inferred from this that the market will follow these paths.
Beginners can regard bull market judgments, retracement price levels, and personal trading plans as opinions rather than guarantees. A retracement is a price decline from a high; a hedge short position is a short position used to offset part of the price risk.
Risks and unknowns
The original text does not provide specific data on on-chain indicators or long-term indicators, so it is impossible to independently verify the judgment that the bear market has ended and that 57,758 USD was the low point.
The 72,500 USD, 69,000 to 70,000 USD, and 70,500 USD mentioned in the article are price levels discussed by Jiang Zhuoer, not prices that have already occurred or will necessarily be reached.
The original text does not explain the specific circumstances of the Binance hack, nor does it clarify who was hacked.
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The original text does not state whether the hedge short position he mentioned is still held or was later closed.
Related concepts
Fibonacci Retracement Level
This term is not in the glossary yet. Browse related concepts in the glossary.
