- Analyst lowers partial profit target to $76.2K, aiming to secure gains early as probability of higher targets weakens.
- Bitcoin shows consolidation between $68K–$76K after decline, with indicators suggesting cautious market structure shift.
- Key levels define direction, with $80K breakout signaling upside, while drop below $68K may resume downtrend.
Analyst Doctor Profit has updated Bitcoin his trading plan following recent price action. He confirmed a long position from $71,000 remains active, however he now targets partial profit at $76,200 instead of $79,000–$84,000, citing changing probabilities and market structure.
Revised Profit Targets
Doctor Profit said he will now close half of his position at $76,200, instead of the previous higher range. He plans to move his stop loss to entry after that level hits. This adjustment locks in gains while removing downside risk on the remaining position.
However, the upper target remains unchanged for the second half of the trade. He still intends to exit fully between $79,000 and $84,000 if price reaches that zone. In contrast, he clarified no short positions will open at $76,200, maintaining focus on higher resistance.
He attributed the shift to probability changes. According to his statement, the likelihood of hitting $76,000 is now high, while the $79,000–$84,000 range holds only medium probability.
Market Structure Shows Consolidation After Decline
Price action supports a cautious stance. Bitcoin declined from above $110,000 to near $70,000 between October and January. During that period, price stayed below both MA50 and MA200, confirming a broader downtrend.
In late January, a sharp breakdown pushed Bitcoin below $80,000 with strong volume. This move coincided with a death cross, as MA50 crossed below MA200. That formation reinforced bearish momentum at the time.
Since February, however, price has stabilized between $68,000 and $76,000. The MA50 has flattened and started curving upward, indicating early consolidation.
Key Levels Define Next Directional Move
Support currently Is between $68,000 and $70,000, while resistance forms near $75,000–$80,000. A move above $80,000 would test higher resistance near $90,000. However, a break below $68,000 would likely resume the prior downtrend.
Doctor Profit also maintained existing short positions between $115,000 and $125,000. Additionally, he placed new short orders within the $79,000–$84,000 range if price reaches that zone.
He further noted expectations of a broader market decline. According to his outlook, a larger downside move could follow once current levels resolve.
