Doctor Profit Targets $79,000 for Bitcoin Amid Short Position Strategy

Huoxing Finance reports that on October 4, renowned trader Doctor Profit stated he has initiated a short position at $86,200 and is placing additional sell orders between $86,500 and $89,500 to build a swing short position. His current target remains $79,000; upon reaching this level, he will decide whether to close the position for profit or maintain the short based on Bitcoin’s price reaction. He is considering a potential deepest pullback range of $69,000 to $71,000 but does not expect prices to fall below this range. Although the short position entered at $86,200 is currently working, he will evaluate the market level by level rather than making a direct bet on a deep correction. His next step is to first observe the strength of support around $79,000 to determine whether the price will continue declining or reverse and resume the bull trend, setting a new local high.