Bitcoin Tests Doctor Profit’s Level 2 Resistance as Daily Closes Loom

Bitcoin (BTC) is testing a resistance level that trader Doctor Profit calls Level 2, with sustained daily closes above it serving as a potential bullish signal in his view.

Doctor Profit said a move above the level followed by continued daily closes there would suggest the market had absorbed panic selling tied to the Binance hack. He said that could mean the selling phase was ending and buyers were regaining control.

Bitcoin is testing resistance; the bullish signal Doctor Profit described depends on a break above Level 2 and sustained daily closes there. The setup differs from Doctor Profit’s earlier view of Bitcoin’s 50-day moving average, which focused on whether that average would hold as support.