[Jiang Zhuoer: Bull Market Still On, July's $57,758 Was the Lowest Point of This Bear Market] BlockBeats reported on November 11th that Jiang Zhuoer, founder of BTC.com, stated that the bull market is undoubtedly still ongoing. Numerous on-chain and long-term indicators point to the end of the bear market, and the $57,758 low in July was the lowest point of this bear market. The only question now is where this decline will ultimately stop: at the 50% Fibonacci retracement level of $72,500, or at the 61.8% retracement level of $69,000 to $70,000. Jiang Zhuoer also reviewed his recent trades. He previously bought DeFi altcoins at $76,600 after the Binance hack, which was a sound long-term strategy for holding for three years. Entering the market early in a bull run and aiming for a somewhat ambiguous correctness allows for a degree of pullback to be tolerable. However, he also stated that one should not be fully invested in long positions in Bitcoin at the same time. Such short-term trading requires greater patience, and profits should be taken at least after the price rebounded to $80,500 on November 5th and then began a slow decline from the high. Jiang Zhuoer plans to reduce his mix of long and short positions in the future, exiting the market and waiting for the trend to complete. If the price further falls to $70,500, he will close his short position at $73,000. [Original Link]