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Yi Lihua: Bitcoin needs a strong breakout above 68,000 to confirm a reversal; otherwise, it will likely test lower levels again.
According to BlockBeats, on July 7th, Yi Lihua, founder of Liquid Capital (formerly LD Capital), stated, "(Bitcoin) is currently still in a downtrend on the weekly chart. Only a strong breakout above 68,000 will lead to a decent reversal. If it fails to break through, it will retest the bottom. Hopefully, we won't see a terrible situation like falling below 47,000."
"Regardless, in the coming months, we'll be fully prepared to buy the buy the dips, and be greedy when others are fearful. Besides mainstream coins, we're also looking for coins buy the dips for a 100x increase in the next bull market. Render, which we invested in during the last dip, saw a maximum increase of nearly 180x. Although most coins are worthless, a very few offer significant opportunities. First, they must have fallen by more than 95% due to market conditions. Second, the founders must be highly capable, their direction must align with trends and essential needs, such as AI, and ideally, they should be financially sound and profitable."
Disclaimer: The views above are the author's only and do not represent 711BTC. Nothing here constitutes investment advice.
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