Doctor Profit Keeps Bitcoin Short Target at $79,000

Doctor Profit said he shorted Bitcoin (BTC) at $86,200 and is adding orders at higher prices as he builds a swing position, with $79,000 remaining his target for a decision on whether to close or hold the trade.

He is placing additional short orders between $86,500 and $89,500. At $79,000, he plans to assess Bitcoin’s price reaction and decide whether to take profit by closing the short or continue holding it.

Doctor Profit said the deepest pullback he is considering is $69,000 to $71,000, and he does not expect Bitcoin to fall below that range. He said he would assess the market at each price level instead of making a direct bet on a deeper decline.

His next focus is how Bitcoin holds support near $79,000. That response will inform his view on whether the price continues lower or reverses, extends the bull market and reaches a new local high.