Yi Lihua: Bitcoin enters a correction phase after consecutive gains, with the market showing signs of a localized bull market.

TechFlow reports on September 09 that JackYi stated Bitcoin has risen consecutively for five days since its rally began on August 17, entering a correction phase on August 22 with a cycle of approximately 19 days. He believes this stage constitutes a normal right-ascending correction within the uptrend, with a range width of about $6,000 and resistance near 823. He points out that bull markets do not rise in a straight line, market conditions are constantly changing, shorting during a bull market trend is unadvisable, and daily-level corrections should be monitored. In addition to broader market trends, recent RH on-chain activity, ZEC, and exchange-traded tokens have shown signs of localized bull markets, with market conditions approaching the eve of the strong bull market in 2020.