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What Does the Chinese Expert Say About Bitcoin at the 90.5K Level? Bullish Trend Signals Are Strengthening
The president of Tangent investment firm, Chinese financial analyst Darryl Wang, has made a positive assessment regarding Bitcoin (BTC) in recent developments. According to Wang’s analysis, the current price movement of Bitcoin shows supportive signs for the continuation of the bull market.
Decreasing Selling Pressure: $84,000 Support Level is Critical
Wang’s observations highlight that Bitcoin has not fallen below the $84,000 level. This finding indicates that the selling power in the market is significantly weakening. Although participation rates are not yet at expected levels, this technical indicator reflects the market’s structural resilience.
Trading Activity and Market Depth Are Changing
The founder of Tangent emphasized that trading volume has decreased in recent weeks and order books are showing noticeable changes. Such market stagnation can be seen as a precursor to major movements. The observations made by the Chinese analyst support the strong potential for Bitcoin to re-enter an upward trend.