Jiang Zhuoer: Bitcoin May Fall Below $80,000, Expected Support at $77,000 Unlikely to Break

BlockBeats news, October 13: Jiang Zhuoer, founder of LTC.top, stated in a post that he currently believes Bitcoin will most likely fail to hold $80,000, but will most likely not break below $77,000.

$77,000 is both the Point of Control (POC) of the volume profile from the previous consolidation range and the POC since the rally that began on August 19, i.e., the price level with the highest volume in the corresponding range. He also believes the market will most likely not drop below $75,000, giving everyone a comfortable entry point.