Bitcoin Recent recovery above $75,000 is forcing some traders to reevaluate their next move, and one analyst who previously called the top of the market is now adjusting his strategy.
Cryptocurrency analyst Dr. Proffitt, who has publicly called for short selling in the $115,000 to $125,000 range, revised part of his trading plan in a new update posted on X. The analyst remains bearish on the medium-term outlook, but the path to his targets has changed It changed in one important way.
Strategic adjustment approximately $76,200
Recent price action has seen Bitcoin slowly creep higher, reflecting capital inflows, particularly through spot Bitcoin ETFs. This sent Bitcoin’s price rising to an intraday high of $75,829 over the past 24 hours, according to price data from CoinGecko.
Interestingly, this price bounce is part of the reason cryptocurrency analyst Dr. Proffit exists Now weigh the odds. Dr. Proffitt had previously outlined a plan to make a full profit on a long position, which started at $71,000, and simultaneously add short orders in the range of $79,000 to $84,000. This strategy has now been refined.
In his view, a move to the $76,000 range carries a much higher probability than a full push to the upper resistance band. The analyst now says that he will close only half of his long position at the $76,200 area, take that profit, and move the stop loss to the entry point.
Dr. Proffitt acknowledged a miscalculation in his previous probability assessment, noting that while the probability of Bitcoin reaching $76,000 is now very high, the probability of reaching the $79,000 to $84,000 area is currently only average.
The bigger picture: A short story that started with $120,000
The context behind this update is important. Doctor Profit’s original short position was set at approximately $120,000. In hindsight, this call has proven to be well-timed. Bitcoin hit an all-time high of $126,000 in October 2025 before falling After new tariff threats Against China, with prices failing to recover and continuing to decline until the end of January. Leading cryptocurrency It has since been floating Between $65,000 and $75,000 for more than two months.
Despite making partial profits earlier, Dr. Proffitt has not abandoned his bearish outlook. The original short position remains open, and the outlook is… Still more bearish, with moves to Price targets below $55,000. Its chart, shared alongside the update, shows three downside targets: Short 1 at around $54,396, Short 2 at $46,392, and Short TP3 at $39,388.
However, there is a distinct difference in the way he plans to add to this position. The plan now is to avoid opening new short positions around $76,000, and instead book additional entries for the $79,000 to $84,000 area. This area, according to the analyst, represents a more ideal area driven by potential market euphoria and late-stage buying pressure.
Featured image from Pixabay, chart from Tradingview.com
Editing process Bitcoinist focuses on providing well-researched, accurate, and unbiased content. We adhere to strict sourcing standards, and every page is carefully reviewed by our team of senior technology experts and experienced editors. This process ensures the integrity, relevance, and value of our content to our readers.
