Crypto trader Doctor Profit said he opened a short position in Bitcoin at $86,200 and has placed additional short orders between $86,500 and $89,500 to build a swing short position. His current target remains $79,000, where he plans to assess Bitcoin’s price reaction before deciding whether to take profit or keep the position open. He also said the deepest pullback range he is considering is $69,000 to $71,000, though he does not expect the price to fall below that area. While the short entered at $86,200 has worked so far, he said he will evaluate the market level by level rather than making a direct bet on a deeper correction. His next step is to watch support near $79,000 and use that reaction to judge whether Bitcoin continues lower or reverses, extends the bull market, and sets a new local high.
According to BlockBeats, crypto trader Doctor Profit said on Oct. 4 that he opened a short position in Bitcoin at $86,200 and has placed additional short orders in the $86,500 to $89,500 range to build a swing short position.
He said his target remains $79,000. Once Bitcoin reaches that level, he plans to decide whether to take profit or continue holding the short based on how price reacts there.
For a deeper correction, Doctor Profit said the lowest pullback zone he is considering is $69,000 to $71,000, and he does not expect the price to fall below that range.
He added that although the short entered at $86,200 has already worked, he will assess the market one level at a time instead of directly betting on a deep correction. His next move is to watch support near $79,000 and then judge whether Bitcoin continues to decline or reverses, extends the bull market, and sets a new local high.
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