Loading...
[Renowned Trader: Short Target for Bitcoin Remains $79,000, Deepest Pullback Expected Between $69,000 and $71,000] BlockBeats News, October 4 — Renowned trader Doctor Profit posted that he initiated a short position when Bitcoin was priced at $86,200 and is currently placing additional short orders in the $86,500 to $89,500 range to establish a swing short position. The current target remains $79,000, and upon reaching this price level, he will decide whether to close the position for profit or continue holding the shorts based on Bitcoin's price reaction. He stated that the deepest pullback range he is considering is between $69,000 and $71,000, and he does not expect the price to drop further below this level. Although the short position entered at $86,200 has already proven effective, he plans to evaluate the market at each price level rather than directly betting on a deep pullback. His next step will be to first observe the support performance near $79,000 to determine whether the price will continue to decline or reverse and extend the bull market, potentially reaching new local highs. [Original Link]