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BTC The analyst closed his short Bitcoin position at $80,600, added BTC and set a target of $94,000, ruling out the possibility of falling to $79,000.
Analyst Doctor Profit bought more BTC after closing his short Bitcoin position at $80,600 and raised his target price to $94,000, while ruling out the possibility of the price falling back to $79,000. At the same time, analyst Darkfost pointed out that the US$84,000 - 85,000 range is Bitcoin's largest chip distribution area, with more than 53% of invested capital holding costs above US$83,000.
Currently, Bitcoin faces resistance in the US$86,000 - 89,500 range; if there is a correction in the price, the US$79,000 - 77,000 range constitutes a potential support band. Both analysts highlighted key price levels that could affect Bitcoin's next move.
Doctor Profit: Lock in profits after closing short orders, with a new target of US$94,000.
Doctor Profit said that he bought Bitcoin at US$60,000 and previously set a target price of US$88,000. He pointed out that $82,500 is a key position to confirm the end of the bear market, and prices are expected to move quickly to $88,000.
When Bitcoin hit this target area, he opened a short position at approximately US$86,200 and added additional short orders in the US$86,500 - 89,500 range, expecting a correction during the bull market. Subsequently, Bitcoin did fall to $80,300. Doctor Profit closed all short positions at $80,600, achieving a profit, and bought spot bitcoin at the same price.
He cited bearish divergences from daily RSI, MACD/PPO and MFI indicators, as well as weakening momentum shown by ADX indicators. However, he said he no longer expects Bitcoin to fall to $79,000 at this time.
Darkfost: Identified US$85,000 as a key resistance area
Darkfost reported that 53% of Bitcoin investment funds entered above US$83,000. According to the analyst's analysis, this means that buyers below the current price have a higher cost of holding a position than more than half of investors.
Darkfost identifies the US$84,000 - 85,000 range as Bitcoin's largest chip distribution cluster. He pointed out that investors tend to respond frequently in this area, so breaking through this range is a task that Bitcoin must complete.
Below the current price range, Darkfost highlighted US$79,000 - 77,000 as a potential support range. His analysis showed that the support band was below the low of $80,300 set in the latest correction.
Bitcoin needs to recover the US$86,000 - 89,500 range
Doctor Profit said that Bitcoin must recover the area where it placed short positions to move towards the US$94,000 target price. He expects spot demand to appear around $86,000 and accumulate in the $86,000 - 89,000 range, rather than another sell-off.
He believes that this shift may turn the original resistance level into support level. Doctor Profit also mentioned that two hours after he released the short closing update, the price of Bitcoin had risen to US$82,000, and had already shared relevant developments on the X platform at that time.
