Prominent Trader: Bitcoin Could Consolidate in $71,000 to $82,000 Range, Still Betting on Upside Breakout

BlockBeats News, August 30th. Renowned trader Doctor Profit stated that in the coming days, the bearish sentiment towards Bitcoin may strengthen, and the bulls will face increased pressure. He believes that the market may experience a price fluctuation in the short term to liquidate longs who FOMOed in at higher prices and those with weak hands.

It is expected that BTC will consolidate in the range of $71,000 to $82,000, with $71,000 being the lower boundary of the range and $82,000 as the key resistance to break. He is still confident that Bitcoin will eventually break upwards, whether it happens on the first or third attempt.

Doctor Profit emphasized that he is currently not shorting or selling, and continues to hold his spot position established around $62,000.