Bitcoin is hanging around $108,000, with some minor dips lately. It briefly hit $109,116 but couldn’t hold that level. Things have been pretty calm price-wise above $106,000. But one analyst, Doctor Profit, thinks Bitcoin is still looking good and has two possible scenarios for what’s next.
Scenario 1: A Quick Dip Before Soaring Higher
This scenario predicts Bitcoin breaking through to $113,000-$114,000 (a new all-time high!), but only briefly. Then, a correction would send it back down to $92,000-$93,000 to fill a gap and tap into some major buying opportunities. Doctor Profit doesn’t see this as a bad thing; it’s just a reset before another push upward towards $120,000. He even suggests buying more Bitcoin if the price drops to that range.
Scenario 2: Straight to the Top!
This one’s more aggressive: Bitcoin blasts past $113,000 and keeps going, without any significant dip. This scenario relies on Bitcoin gaining momentum quickly and pushing straight to $120,000.
What About That Whale Wallet?
Doctor Profit also addressed concerns about a huge Bitcoin transfer from an old wallet. He thinks it was likely a private deal between big players, not a sign of a massive sell-off.
Low Volatility Ahead?
The analyst expects low volatility in the coming days, even with upcoming economic news like the FOMC minutes and unemployment claims.
The Key Level: $113,000 – $114,000
The $113,000-$114,000 range is the key. Whether Bitcoin corrects or keeps climbing from there will determine how quickly it hits $120,000. As of now, Bitcoin is trading at $108,270.
