- Analyst is building Bitcoin shorts between $86,500 and $89,500, citing selling pressure across the range.
- Ali Charts identifies 83,300-84,600 as key Bitcoin support, with $86,700 marking a potential breakout level.
- Large holders added over 14,335 BTC since October 1, valued at about $1.22 billion by Ali Charts.
Bitcoin is facing two sharply different calls as Doctor Profit builds shorts near $89,500 while Ali Charts sees room toward $100,000. Doctor Profit said he expects another decline from the 86,500-89,500 area, while Ali Charts points to support between $83,300 and $84,600. Their views center on different levels.
Doctor Profit Rebuilds Bitcoin Short Position
Doctor Profit said Bitcoin traded near $124,000 one year ago before he sold his holdings. He then built a large short position and targeted $60,000. According to Doctor Profit, October 10 brought a severe market selloff, with some altcoins losing up to 95% in one day.
He said he later closed his shorts near $60,000 and began buying Bitcoin on the spot market. Now, he is building another short position between $86,500 and $89,500. Each move into that area gives him another chance to add, he said.
Doctor Profit also identified $88,000 to $89,500 as the area holding his largest orders. His current setup therefore focuses on selling pressure within the upper part of that range.
Ali Charts Tracks $83,300 Support
Ali Charts offered a different view based on Bitcoin’s recent trading range and on-chain data. He said Bitcoin spent the past two weeks between $83,000 and $86,700 without breaking above the range.
However, Ali Charts identified $83,300 to $84,600 as a major support zone. URPD data shows 1.59 million BTC traded across that range, creating a level buyers can defend. The next level in his setup is $86,700. According to Ali Charts, Bitcoin could face little comparable supply until roughly $105,000 if it breaks above that level.
Whales Add More Than 14,000 BTC
The on-chain data also shows increased buying among large holders, according to Ali Charts. Since October 1, large holders have added more than 14,335 BTC to their holdings. Ali Charts valued those additions at approximately $1.22 billion.
The data places whale accumulation alongside the support zone and the $86,700 breakout level. As a result, his setup centers on two prices: 83,300-84,600 for support and $86,700 for a breakout. Doctor Profit, meanwhile, is watching 86,500-89,500 for additional short positions.
