- Doctor Profit said he is accumulating Bitcoin between $54,000 and $64,000 using dollar-cost averaging instead of timing the exact bottom.
- The analyst highlighted Bitcoin’s weekly 200-day moving average as a key long-term support level within his buying range.
- Markets expect a 65% chance of unchanged Fed rates, with investors closely watching policy guidance for Bitcoin’s next move.
Bitcoin accumulation returned to focus after market analyst Doctor Profit outlined a $54,000-$64,000 buying range while cautioning against chasing an exact market bottom. The update came ahead of this week’s Federal Reserve meeting, where markets expect a 65% chance of unchanged interest rates and a 35% chance of a rate hike, according to the analyst. Doctor Profit said he has already started accumulating Bitcoin within that range.
Analyst Outlines Accumulation Strategy
According to Doctor Profit, his approach centers on dollar-cost averaging rather than identifying Bitcoin’s exact low. He said he is gradually building positions between $64,000 and $54,000 while sharing each purchase privately with Premium members.
The analyst compared the strategy with his earlier short positions. He said he built those positions between $115,000 and $125,000 instead of targeting one precise price. As a result, he said his average entry reached about $119,000.
Doctor Profit added that he aims to build an average Bitcoin entry over the next one to two months. He also confirmed that he plans to accumulate Ethereum and selected altcoins during the same period.
Technical Levels Remain in Focus
The analyst pointed to the weekly 200-day moving average as a key reference level. He said the indicator currently runs through the lower section of his preferred buying zone.
According to Doctor Profit, Bitcoin has tested that area several times. He added that purchases near the weekly MA200 have historically produced profitable long-term entries.
Meanwhile, he argued that securing an average entry around $58,000 would still represent a favorable outcome if Bitcoin ultimately bottoms near $54,000. He also warned that investors waiting for a perfect bottom often enter later at higher prices.
Fed Meeting Draws Market Attention
Alongside his Bitcoin outlook, Doctor Profit highlighted Wednesday’s Federal Reserve meeting as the week’s major event. He said interest rate expectations have shifted considerably since the start of the year.
According to the analyst, markets now assign a 65% probability to unchanged rates and a 35% probability to a hike. He also noted that September hike expectations exceed 80%, adding that investors will closely watch the Fed’s comments for additional policy direction.
