Bitcoin can revisit $87,000 during consolidation, but only as an opportunity to add shorts, not confirmation of the trend.
Bitcoin (BTC) staged a modest recovery of nearly 2% in Monday’s Asian trading hours after dipping slightly below $70,000 over the weekend. But prominent market analysts believe the carnage is far from over.
Dr. Profit, in particular, believes that the stock is entering an additional sideways phase that is not a bullish consolidation but a preparation for a deep decline in the coming months.
Sideways, Then Down
According to the analyst’s findings, Bitcoin is forming a new trading “box” between $57,000 and $87,000, which represents a range of 33%. He expects price action to remain largely range-bound at these levels for weeks or even months.
Dr. Profit said that this sideways behavior should not be interpreted as strength, but instead as a structural phase that often precedes the collapse of a broader bear market. Drawing a parallel to 2024, the analyst said BTC spent the entire year hovering between $58,000 and $74,000 before breaking above $100,000, and repeatedly warned at the time that this list would serve as a reference during the next bear market.
That situation is now playing out: Bitcoin is once again trading in the same price zone, but this time in a critical situation, where the previous consolidation points act as a structure rather than a long-term support. He expects that once the current sideways phase is over, the crypto asset will collapse below the box and eventually target the region of $44,000-$50,000 in the coming weeks or months.
Dr. Profit said he is buying Bitcoin between $57,000 and $60,000, which he considers the bottom of the current range, but not the last major bear market. He added that the property is likely to be tested multiple times during the lateral phase, making it suitable for multiple trades, and the upside during this period could exceed $87,000, depending on the strength of the market.
However, the analyst made it clear that $87,000 is not a guaranteed target and simply represents the upper bound of what he expects at the time of the merger. If the price approaches that level, he said he would consider adding to existing short positions open between $115,000 and $125,000, which he continues to hold in full.
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Meanwhile, there is no immediate downside while the market remains tied to the crisis, according to Doctor Profit’s analysis. He described the future as “long and boring” while adding that aggressive long-term buying will only happen very slowly, between the low $50,000s and the low $40,000s, when he believes that Bitcoin will finally bottom, around September or October.
“We’re in a bear market. The bounce is temporary and it’s there to create cash to reduce the rest.”
No BTC Bulls Release
Another anonymous analyst, Filbfilb, posted a Bitcoin chart on X where he compared the current market setup to the bear market of 2022, giving little encouragement to the bulls.
His findings revealed that BTC is trading below the 50-week exponential moving average near $95,300, a level, according to the analyst, that is an important sign of the trend. Filbfilb suggested that a loss of this level leaves the crypto asset vulnerable, as recent price action resembles bear market conditions rather than recovery.
Market analyst BitBull also shared a similar prediction, saying that “BTC’s final breakout has yet to happen,” and that “the real bottom will be below the $50,000 level, where most ETF buyers will be underwater.”
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