Doctor Profit kept a $94,000 target for Bitcoin (BTC) and said he would add to long positions around $80,000, outlining the price levels behind his current market view.
His spot Bitcoin position dates to around $60,000, and he said he continues to hold it. For several weeks, he has treated $80,000-$81,000 as a possible level for adding to long positions. He framed the approach around a longer holding period, rather than a quick trade seeking a $4,000 move.
Before setting the current $94,000 objective, he had pointed to $86,000-$89,000 as a range Bitcoin needed to recover. EconoTimes previously covered his view of the 50-day moving average as a support test.
Recalling an earlier selloff, he said market participants mocked Bitcoin after it slid from $84,000 to below $80,000.
