Lihui's Latest Call: Bitcoin Shorts Target $62,500

Zhang Lihui, a crypto market analyst, has accurately predicted another wave of Bitcoin shorts. In his latest analysis, he notes that the high short positions set up on August 29th successfully achieved their target at $62,500.

The K-line has reached the lower boundary of the daily Bollinger band, but Lihui emphasizes that July's market was relatively easy to trade, with a small fluctuation range within the daily band channel. He criticizes those who claim Bitcoin prices will soar to $78,000, saying it hasn't even broken through the daily small box resistance level.

Lihui has repeatedly profited from short setups in recent weeks and advises traders to focus on resistance areas for high short entries. If the lower band and $62,000 support fail, he recommends looking further down to the 3-day MA500 and the lower band area; if this region holds, traders can consider entering long positions for the long term.

Lihui provides two trading recommendations: a light long below $60,700 with a stop loss below $60,000 targeting $61,500-$62,500-$63,500, and a light short above $63,500 with a stop loss above $64,500 targeting $62,500-$61,500-$60,700.