Bitcoin is worth around $84,000 after bouncing from the recent drop toward $80,300, and Doctor Profit believes the pullback has already done its job. The analyst says he bought Bitcoin around
Bitcoin is worth around $84,000 after bouncing from the recent drop toward $80,300, and Doctor Profit believes the pullback has already done its job.
The analyst says he bought Bitcoin around $60,000, later called for a move toward $88,000, and then changed to bearish near the top of that move. He opened a short around $86,200, with additional orders planned between $86,500 and $89,500, before closing the position near $80,600 and buying more BTC spot.
Now his view has flipped bullish again.
His next target is $94,000.
Doctor Profit’s core argument is that the decline from the $88,000 area was a correction inside a broader bull market.
Before the drop, he pointed to bearish divergence on the daily RSI, along with weakening MACD/PPO and MFI readings. ADX also showed weaker trend strength.
Those signals supported his decision to short the $86,000-$89,000 region.
Bitcoin later dropped to roughly $80,300, close to the lower support area shown on his chart.
He has now closed the short and says he is no longer waiting for $79,000.
That is an important change.
His thesis is that the downside move has already cleared enough excess from the market and that Bitcoin can now start building the next leg higher.
The Bitcoin chart shows two major areas.
The lower zone sits around $80,000-$80,600. This is where Doctor Profit says he closed his short and bought more Bitcoin.
The upper zone sits around $86,500-$87,500, with the broader area extending toward $89,000.
Source: X/@DrProfitCrypto
That zone rejected Bitcoin previously and became the location of his short.
For the $94,000 target to become realistic, BTC first needs to recover this entire resistance area.
Doctor Profit believes the difference this time could be spot demand.
Instead of seeing distribution around $86,000-$89,000, he expects buyers to absorb supply and eventually turn that former resistance into support.
If that happens, the path toward $90,000 and then $94,000 becomes much cleaner.
Read also: ChatGPT Predicts a Stunning Finish to 2026 for Bitcoin and Cardano
The target is aggressive, but the chart logic is straightforward.
Bitcoin has already defended the $80,000 region and bounced back above $83,000.
The first real test is $86,000.
If BTC reaches that area and fails again, the market could remain trapped between roughly $80,000 and $87,000.
But if buyers reclaim $86,000-$89,000 with stronger spot demand, Doctor Profit’s $94,000 target becomes much more credible.
So the most important part of his forecast is not $94,000 itself.
It is: can Bitcoin turn the same zone where he previously shorted into support.
That would confirm his view that the correction is over and that the next leg of the bull market has started.
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The post “Correction Is Over!” Analyst Who Called the $60K Bitcoin Bottom Makes a Bold Prediction appeared first on CaptainAltcoin.
