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Bitcoin OG and BitForex founder Garrett Jin said in a weekly report that Bitcoin’s sideways trading has not finished and the current correction may not even be halfway over.
Jin said BTC had earlier climbed to $82,300 but failed to hold that level and moved back into its range. Spot buying remains in place, Jin added, but for now it is not strong enough to absorb selling pressure above $82,000. If stronger spot demand helps BTC reclaim $82,500, the next resistance zone would be $83,000 to $86,000, he said. If the breakout fails, the market should watch whether support at $76,000 holds.