Bitcoin price opened Monday on a more positive note after briefly falling below $80,500 on Sunday. BTC has since recovered above $82,500 as risk appetite improved alongside stronger Asian equ
Bitcoin price opened Monday on a more positive note after briefly falling below $80,500 on Sunday. BTC has since recovered above $82,500 as risk appetite improved alongside stronger Asian equities and U.S. stock futures. Stronger-than-expected Chinese GDP data and easing oil prices also helped the broader market tone.
That rebound fits closely with the scenario outlined by Doctor Profit, who believes the latest Bitcoin correction has already done what it needed to do.
The analyst previously turned bearish around $87,000 because price was making higher highs while daily RSI was producing lower highs. That bearish divergence was one of the reasons he expected a move toward $79,000.
Now, however, he believes the conditions that supported that bearish call have largely reset.
His daily BTC chart compares two separate pullbacks.
During the previous correction, Bitcoin declined into the orange moving-average line at the same time that daily RSI entered the highlighted lower region. Price then bounced strongly from that area.
The current structure looks similar.
Bitcoin has once again fallen back toward the orange line, this time around $81,000-$82,000, and RSI has returned to almost the same region where the previous local bottom formed.
That does not prove history will repeat, but the similarity is clear.
The previous bearish divergence has also largely played out. At $87,000, Bitcoin was pushing higher even as momentum weakened underneath. Following the latest selloff, both price and RSI have cooled considerably.
Doctor Profit therefore views $81,000-$82,000 as accumulation territory rather than an area to bet aggressively against. He disclosed that he entered a 4x leveraged long position around $81,000.
Source: X/@DrProfitCrypto
The analyst places particular focus on $82,000.
In his earlier analysis, that level represented an important resistance area. Bitcoin eventually broke through it and later rallied toward $87,000.
That changes the role of the level.
BTC is now testing the former resistance from above, which creates a classic support-retest setup. Monday’s recovery back above $82,500 is therefore constructive for his thesis.
Doctor Profit wants Bitcoin to reclaim and maintain $82,000 first.
From there, he expects a period of consolidation between roughly $82,000 and $88,000.
The $86,000-$88,000 region is especially important because he expects accumulation there rather than the distribution that previously stopped Bitcoin’s rally. If buyers can absorb selling around those highs, the next move could extend beyond $88,000.
Read also: BlackRock Sells Bitcoin AGAIN! (Numbers Are Worrying)
Doctor Profit’s next target remains $94,000.
From $82,500, that would represent approximately 14% upside.
The path he describes is not a straight move higher:
$82K reclaim → $82K-$88K consolidation → $88K breakout → $94K.
The chart even projects a much larger move after the current support test, although the analyst’s stated near-term target remains $94,000.
There is also an important invalidation to consider.
If BTC loses the $81,000-$82,000 region decisively and cannot recover it, the comparison with the previous local bottom becomes much weaker. A deeper move toward the recent $79,000-$80,000 area would then become possible again.
One additional source of recent fear has been the Ledger hardware-wallet incident. Ledger confirmed unauthorized hardware tampering linked to devices sold through a Southeast Asian reseller, with reports tracing tens of millions of dollars in crypto losses. Ledger has said confirmed cases remain limited and that its internal systems were not compromised.
For me, the most compelling part of Doctor Profit’s analysis is not simply the $94,000 target.
It is the combination of three conditions happening together: the bearish RSI divergence has already played out, momentum has reset into the same region as the previous bounce, and BTC is retesting $82,000 after previously turning that level from resistance into support.
If Bitcoin continues holding above $82,000 this week, his bullish case becomes considerably more convincing.
For more crypto news and price predictions, click here.
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
The post Bitcoin Price Bullish Signals: Analyst Says $81K Could Be the Local Bottom appeared first on CaptainAltcoin.
