Bitcoin Expected to Adjust to $72,000-$74,000 After Reaching $83,000-$84,000 Resistance

Bitcoin (BTC) is expected to adjust to a range of $72,000-$74,000 after reaching the resistance level of $83,000-$84,000, according to an analysis. Jiang Zhuoer, founder of Livbit Mining Pool, suggested that Bitcoin may rebound before falling below $75,000 and has recently accelerated its upward movement. This scenario was reported by BlockBeats. Jiang Zhuoer also noted that Bitcoin could fall again after liquidating short positions, with potential accumulation of long positions in the $72,000-$74,000 range. Liquidation refers to forced closing of leveraged positions due to price fluctuations. Earlier, Jiang Zhuoer had analyzed that Bitcoin might adjust after rising to $83,000-$84,000, and this latest analysis is based on the same premise of reaching that price level followed by position liquidation.