BlockBeats News, August 21st, Liquid Capital (formerly LD Capital) founder Li Hua issued a statement, indicating that since May's rebound ended, his main focus over the past two months has been on one thing: the possibility that July to August was the final buying opportunity for BTC in this cycle. With Bitcoin's daily chart breaking strongly above the 120-day moving average and the 200-day moving average, and the weekly chart breaking above the 20-week moving average, the bearish trend of BTC has officially ended.

He stated that the market is still bullish in the next two weeks, but a pullback may occur after rising to a certain level. The magnitude of the subsequent pullback will not exceed 50% of the increase. For investors using leverage, it is recommended to reduce long positions and refer to the weekly trend and pullback magnitude during the 2023 bull run.

In this round, Bitcoin fell from a high of $126,000 to $57,000, with a maximum decline of about 56%. He believes that this decline has formed a cyclical low, and it will be difficult for the market to see BTC prices starting with $50,000 again.