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Jiang Zhuoer: Closed all short positions on Bitcoin (BTC), restored full spot positions in Ethereum (ETH), awaiting upside.

51 minutes ago

BTC.TOP Mining Pool founder Jiang Zhuoer posted that he previously opened a short position on Bitcoin (BTC) at $82,050, has now closed the position to take profit at $79,480, and is back to holding a full spot position in Ethereum (ETH) awaiting gains. His reasoning includes: ETH, the engine of this bull market, has recently led gains and is approaching its previous high, which may drive BTC higher; he only took short positions during the continuous net inflow of ETFs (a record $730 million single-day net inflow on September 3). If BTC rises to the $83,000-$84,000 range, he will repeat his short strategy, judging this resistance level will be hard to break in the short term. Jiang added he is still waiting for a major pullback. If BTC drops to the $71,255-$73,361 range (the Fibonacci 50% to 61.8% retracement level), he will buy back all positions; otherwise, he will repurchase as planned by the end of October. He also referenced two previous accurate top-hitting operations: shorting ETH at $2,525 on August 22 and shorting BTC at $82,050 on September 4, and believes the current trading logic of using no leverage and full-position trading is effective.

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