Bitcoin is expected to consolidate within a wide range of $57,000 to $87,000 for several months, according to market analyst Doctor Profit. This sideways movement is seen as preparation rather than a sign of strength, with the analyst predicting a potential breakdown to the $44,000–$50,000 range later in the year, possibly around September or October.
Doctor Profit's analysis suggests that the current trading range, formed after recent price action near $78,000, mirrors historical patterns seen in 2024 when Bitcoin traded between $58,000 and $74,000 for nearly a year. He emphasizes that in a bear market, previous consolidation zones do not provide support but rather become structures that eventually fail.
The analyst's strategy involves buying near the $57,000–$60,000 range for short-term gains, while the $87,000 level is viewed as a cap on upside potential, prompting additional short positions. Doctor Profit maintains shorts from the $115,000–$125,000 range and expects the final accumulation zone to be below $50,000, extending into the low $40,000s.
Bitcoin Analyst Predicts Extended Consolidation and Potential Drop to $44k–$50k
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