- Latest Doctor Profit weekly report reveals BTC fall to $54,000 as the lowest target.
- Bullish times ahead for BTC.
- Analyst reveals full accumulation plan for Bitcoin this year.
The crypto market is pleased to see the price of Bitcoin (BTC) trading back over the $65,000 price range. At the moment, reputed analysts are debating the possibility of the price of the pioneer crypto asset moving in a bearish or bullish momentum. To highlight, the latest Doctor Profit weekly report reveals BTC fall to $54,000 as the lowest target. This is a drastic change from his previous call to $40,000 bear market bottom target.
Latest Doctor Profit Weekly Report Reveals BTC Ball to $54,000
Reputed crypto analyst known for his many accurate price predictions follows up on his latest crypto market report. Recently, the silver-tongued analysts revealed a change in his bear market bottom prediction, which was initially set at the $40,000 price range, and now believes that the price of BTC will only dip as far as the $54,000 price range. Thus, he has sold all his short trade holdings and has begun accumulating BTC for the long-term.
As we can see from his latest weekly report shared above, he goes on to explain why he has made the decision to start buying Bitcoin (BTC). He says while everyone is obsessed with timing the exact bottom and talking about the strength in July, they are arguing that in August and September the market will see a stronger correction to new lows. While $44,000 and $48,000 seem to be the current bottom expectations, he believes a range is more likely to play out.
Specifically, he considers the range of $54,000 – $64,000 as a great entry region for DCA. He says that this range of 15% is perfect to start buying BTC and leveraging risk. Thus, he makes it clear that his current strategy is to actively accumulate Bitcoin. In fact, he says, the buy region between $54,000 and $64,000 is exactly where Bitcoin has been trading, and the MA200 weekly is running straight through the lower part of this zone.
Bullish Times Ahead for BTC and Crypto?
He also stresses on the fact that Bitcoin has tested this region several times, and makes a simple argument, which is supported by historical proof, and that is that buying at, or close to the MA200 Weekly always proved to be profitable. This is the confluence he has been describing since the pivot announcement. All in all, he aims to accumulate BTC within this price range over the next 1 -2 months.
The post concludes with weekly events to watch out for that could influence the movements of the crypto market. The first is the FOMC meeting on Wednesday, where he expects market prices to have a 65% chance of no change and a 35% chance of a rate hike. Will the price of BTC bottom over the next two months, or will the price of altcoins finally enter its long-awaited altseason peak phase?
