Jiang Zhuoer: If BTC falls below the key support of $76,500, the decline may accelerate.

September 13: Jiang Zhuoer, founder of LEBIT Mining Pool (B.TOP), stated that BTC has declined as expected, with $76,500 being a key support level (the lower edge of the ascending channel, as well as the 23.6% Fibonacci retracement of the move from around $57,000 to $82,000). If it breaks below $76,500, the decline could accelerate, and the next focus will be whether the previous low of $75,500 can hold.

In the early hours of today, he had said there were two possible follow-up scenarios:

a. If it stops falling and rebounds before $75,000, then it is more likely to rise back to $80,000, or even climb to the high resistance zone of $83,000 to $84,000, before starting a major correction;

b. If it effectively breaks below $75,000, then it will trigger the correction corresponding to the original rise from $64,000, with an expected drop to $70,000 to $72,000, before entering the next phase of the bull market.

Jiang Zhuoer believes that next week's vote on the Crypto Market Structure Bill (the CLARITY Act) and Federal Reserve news could become key catalysts, so he is maintaining a neutral position of full BTC short positions plus full ETH spot positions.