Doctor Profit: Bitcoin’s Next Big Breakout Is Closer Than You Think

• Bitcoin’s symmetrical triangle pattern signals an imminent breakout, with a bullish move likely if resistance is breached.
• Institutional interest in Bitcoin is growing, with large holders urged to shift assets into ETFs for protection.
• Liquidity from speculative assets is gradually flowing into Bitcoin, reinforcing its role as the top digital store of value.

Doctor Profit, a prominent figure in crypto, recently discussed Bitcoin’s current movement within a psychological zone at $100K. He suggests that this period of consolidation is not bearish but rather indicative of bullish potential. According to Doctor Profit, the breakout from this sideways price action is imminent, and holding Bitcoin is wise as more profits (x) are coming.

Bitcoin’s price has been trading in a narrow range, making consistent lower highs and higher lows. This action has formed a symmetrical triangle pattern on the 4-hour chart, signaling potential volatility ahead. The BTC/USDT chart from Bitget shows horizontal resistance and support levels in red, along with two converging trendlines in green. The price is currently trading near the lower boundary, indicating compression in the market.

Bitcoin’s price has recently bounced between these levels, testing the lower trendline multiple times. On the upside, the resistance level has proven difficult to breach, as seen with several failed breakout attempts. However, the support zone has held steady, preventing any significant declines. The relatively low volume during this phase of consolidation points to a potential breakout, either bullish or bearish.

Bitcoin’s Upcoming Breakout: What’s Next?

The narrowing range of the symmetrical triangle shows that Bitcoin is preparing for a breakout. A break above the resistance level may see Bitcoin experience a vigorous move to the upside, with higher levels being targeted. Conversely, a breakdown below support may signal further downside. The market is on hold, awaiting direction.

Moreover, the market is seeing increased interest from those in the know, with high-net-worth individuals and institutions shifting funds into Bitcoin. Doctor Profit encourages owners of large Bitcoin holdings, especially those with over 100 BTC, to consider transferring their assets to ETFs. This move protects them from potential risks, including regulatory scrutiny and the freezing of bank accounts.

Liquidity Shifting to Bitcoin

As meme coins and other speculative assets gain attention, Bitcoin continues to attract smart money. Over time, the liquidity flowing into these assets will eventually funnel into Bitcoin, strengthening its position as the dominant digital asset. Investors who hold onto meme coins might soon realize that the real value lies in Bitcoin, the ultimate store of wealth in crypto.