Bitcoin’s climb back above $75,000 is forcing some traders to rethink their game plans — including a bearish analyst who earlier called the market top.
Crypto analyst Doctor Profit, who had publicly recommended a short in the $115,000–$125,000 range and entered a short near $120,000, updated his stance on X after Bitcoin pushed to an intraday high of $75,829 in the past 24 hours, per CoinGecko. While he remains bearish on the medium-term outlook, he has tweaked how he will manage existing longs and add to shorts.
What changed
- Recent inflows — notably through Spot Bitcoin ETFs — have nudged BTC higher and increased the likelihood of a near-term move into the mid-$70,000s. Doctor Profit now considers a move into the $76,000 area “very likely,” but views a full run-up to his previously targeted $79,000–$84,000 resistance band as only a medium-probability outcome.
- Instead of exiting his entire long that began at $71,000 and immediately layering on shorts in the $79K–$84K range, he will now take only half profits around $76,200, pocket that gain, and shift his stop-loss to breakeven (entry). That change locks in partial profit and eliminates downside risk on the remainder of the long.
Bearish thesis still intact
Doctor Profit’s original short call — placed near $120,000 and made before Bitcoin’s October 2025 all-time high of $126,000 — has worked out in hindsight after prices fell amid tariff tensions with China and slid through late January. BTC has since traded in roughly a $65K–$75K range for more than two months.
He has left the short position open and continues to target lower levels, with three downside targets on his chart:
- Short TP1: ≈ $54,396
- Short TP2: ≈ $46,392
- Short TP3: ≈ $39,388
How he’ll add to shorts
Doctor Profit clarified he won’t be adding new short exposure around $76,000. Instead, he’ll look to scale into shorts in the $79,000–$84,000 band — a zone he sees as more likely to be driven by late-stage buying and market euphoria, and therefore a better entry for bearish positions.
Bottom line
The update highlights a shift from a blunt “exit-and-enter” approach to a more nuanced risk-management plan: take partial profits, secure the rest with a breakeven stop, and wait for a clearer, higher-probability shorting window. Traders watching BTC’s ETF-driven flows and intraday price action will likely view the $76K–$84K area as a key battleground between bulls and bears in the weeks ahead.
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