Renowned trader: $76,000 is a key support level for Bitcoin, still believes the bull market will continue.

BlockBeats news, October 31 - Renowned trader Doctor Profit posted that although Bitcoin lost the daily EMA50 and MA50 support in the $80,000 to $81,000 range after this black swan event, it remains within its bullish fractal structure.

He emphasized that $76,000 is key support, and a previous breakout above this area confirmed the start of a bull market. If it is lost, it would severely hit bulls and face a higher risk of testing down to $67,000 to $69,000; as long as $76,000 holds, he sees no need to panic for now.

He views the recent price action as a massive shakeout that triggered大量 liquidations and panic selling, and still believes the bull market will continue. He stated that the long position opened at $80,400 and all spot bought at $60,000 are still held. If it breaks below $76,000, he will admit that the recent long judgment in the $80,000 to $81,000 range was wrong, but will not turn bearish because of it, and still views the current move as a cleanup before the next rally.