Analyst Doctor Profit has adjusted his Bitcoin trading plan following recent price action. He confirmed that his existing long position from $71,000 remains active, but lowered the partial profit target to $76,200 from the previous $79,000–$84,000 range, citing shifting probabilities and market structure.
Target Revision: $76.2K Partial Exit
Doctor Profit stated he will close half of his position at $76,200 instead of the earlier higher range. Once that level is hit, he plans to move his stop loss to entry, securing gains while removing downside risk on the remaining position. The upper target for the second half remains unchanged at $79,000–$84,000. No short position will be opened at $76,200, keeping focus on higher resistance.
He attributed the revision to probability changes: hitting $76,000 now carries a high probability, while the $79,000–$84,000 zone has only medium probability.
Technical Picture: $68K–$76K Consolidation
Bitcoin declined from above $110,000 to near $70,000 between October and January, staying below both the MA50 and MA200, confirming a broader downtrend. In late January, a sharp breakdown pushed price below $80,000 with strong volume, coinciding with a death cross (MA50 crossing below MA200).
Since February, the price has stabilized between $68,000 and $76,000. The MA50 has flattened and started to curve upward, suggesting early consolidation. Support is at $68,000–$70,000; resistance at $75,000–$80,000. A move above $80,000 would test $90,000, while a break below $68,000 would likely resume the downtrend.
Position Management and Short Orders
Doctor Profit maintains existing short positions from $115,000–$125,000 and has placed new short orders in the $79,000–$84,000 range if price reaches that zone. He anticipates a larger downside move after the current consolidation resolves.