Doctor Profit, a prominent analyst known for his insightful commentary, is reiterating his bearish expectations for the remainder of 2026. Despite Bitcoin reclaiming higher prices around the $90,000 mark, Ethereum maintaining its position above $3,000, and the CMC Fear & Greed Index indicating a neutral sentiment, which typically suggests a hopeful crypto price rally, Doctor Profit remains firm in his bearish outlook.
Analyst's Bearish Expectations Detailed
In his latest weekly Bitcoin report, Doctor Profit also places significant emphasis on stock market performance. He observes that since November, there has been virtually no meaningful change in Bitcoin's price, in his view. He characterizes Bitcoin as being stuck in a sideways consolidation phase, which he considers bearish. He believes it is only a matter of time before the asset experiences a decline to targets below $80,000.
Doctor Profit notes that BTC is currently in this sideways phase, exactly as he predicted in November when he anticipated a prolonged sideways price movement that would ultimately lead to a downward trend. Consequently, the expert continues to hold his short positions initiated in the $115,000-$125,000 price range. He also revealed his intention to add more short positions if the market presents an opportunity to move into the $97,000-$107,000 price region.
This is the only region I would be interested in adding more short positions, not earlier. I explain why I have many price orders set in place and say to assume a trading portfolio of $10,000. I would then divide this capital into 12 orders between $97,000 and $107,000. This means each order size is $833 ($10,000 ÷ 12). These orders are added on top of the existing short from $115,000-$125,000, not replacing it. This allows me to be more flexible in the new orders. I also encourage other traders to play smart and hedge risks to maximize gains depending on multiple possible outcomes, like I have strategized using this example. I say that this allows for a clean average entry during long consolidations instead of gambling on a single price.
— Doctor Profit (@DrProfitCrypto) May 16, 2024
The provided social media post clarifies that this specific price range is the only one where he would consider adding further short positions, not at an earlier stage. He elaborates on his strategy of setting multiple price orders, using a hypothetical $10,000 trading portfolio as an example. He explains that this capital would be divided into 12 separate orders placed between $97,000 and $107,000, resulting in an order size of $833 for each ($10,000 divided by 12). These new orders are intended to supplement, not replace, his existing short position established between $115,000 and $125,000, thereby offering greater flexibility. He advises other traders to adopt a strategic approach, hedging risks to optimize gains based on various potential market outcomes, similar to his own planned strategy. This method, he suggests, enables a precise average entry during extended consolidations rather than relying on chance with a single price point.
January 21st: A Key Date for Crypto Market Clarity
Doctor Profit concludes by highlighting January 21st as a significant date. This is the anticipated release date for the text of the CLARITY Act bill. This release will provide markets and institutions with the definitive rules governing the cryptocurrency space. The document is expected to clarify regulatory authority over crypto, the treatment of exchanges, and whether the established framework will be restrictive or supportive of the crypto industry.
Even without an immediate vote, this information alone has the potential to influence market movements, as increased clarity serves to reduce uncertainty. The text is slated for publication on January 21st, with a vote scheduled for January 27th, which will ultimately determine the outcome. In summary, the analyst maintains an exceptionally bearish stance on the market and anticipates a subsequent downturn.