- Reputed silver-tongued analyst calls for $79,000.
- He is expecting a corrective BTC price movement within the bull market.
- Presently, BTC trades at the $83,000 price range.
The crypto community is eager to see how the crypto market will close the final month of Q3 2026. Will BTC and ETH close in green this September, setting up the possibility for a bullish continuity over the coming days? Presently, the price of BTC has dropped to trade in the $83,000 price range as a reputed silver-tongued analysts calls for $79,000 target next, as part of a correction within the bull market.
Reputed Silver-Tongued Analyst Calls for $79,000
Doctor Profit, the reputed silver-tongued analyst, known for his many accurate predictions so far, goes on to share his latest market report, where he reiterates his prediction for a BTC price correction. According to him, the price of BTC shows clear signs for the asset to enter a short correction within its bull market start pump. Based on this observation, the price of BTC was expected to fall from the $88,000 price range to that of $79,000.
As we can see from the post above, Doctor Profit marks how several weeks ago, when Bitcoin was trading around $60,000, he called for $88,000. Furthermore, last Sunday, in his previous market report, he went on to explain why the rejections at the MA50 Weekly did not change his bullish outlook. Now, he states that the sentiment was completely different last week in comparison to today.
He states that while last week almost everyone was bearish and calling for a rejection at the MA50 weekly, he called for a breakout. He justified this expectation by comparing a similar pattern in early 2023, when several failed attempts were followed by a breakout. A few days after his report, Bitcoin reached $87,300, which was lower than 1% below his target. After anticipating this move from $60,000, he considered the $88,000 target area effectively hit.
BTC Trades at $83,000 as Correction Ensues
Since then, he entered multiple short positions around $86,200, keeping his longs from the $50,000 and $60,000 price ranges still open. For now, his first downside target is $79,000, around the MA50 Weekly. Additionally, he states that presently, he does not expect there to be a second lower target. However, he can confirm this only once $79,000 is hit and observes Bitcoin’s reaction.
Lastly, he confirms that for now he believes BTC to hit $79,000 before continuing towards a higher high, keeping the bull market trend going. After confirming how he considers Bitcoin to be in a bull market, he says this expected correction will take place within this bull market. He concludes by sharing four key indicators showing bearish divergences, which are the RSI on the daily chart, ADX, MACD/PPO, and MFI.
