Garrett Jin: Bitcoin bulls face challenges as prolonged consolidation increases risk of support breakdown

Garrett Jin, an agent for a prominent Bitcoin whale, stated on September 13 that the outlook for Bitcoin bulls is unfavorable as the price continues to hover above $76,500. He expressed skepticism regarding the current consolidation phase, warning that the longer the price remains in this range, the more likely it is to break below the $76,500 support level to seek lower levels rather than staging an immediate reversal. Jin noted that for Bitcoin to regain strong momentum, it must reclaim and sustain a position above $78,300.