BTC Tumbles to $83,000 Amid Bull Market Correction Predictions

Bitcoin has dropped to the $83,000 price range as Doctor Profit calls for a correction within the bull market. The silver-tongued analyst expects BTC to fall from its current price to around $79,000.

According to his latest market report, Doctor Profit noted that several weeks ago, when Bitcoin was trading at $60,000, he predicted it would reach $88,000. He justified this expectation by comparing a similar pattern in early 2023, where failed attempts were followed by a breakout.

Since then, he entered multiple short positions around $86,200 and kept his longs from the $50,000 and $60,000 price ranges open. His first downside target is $79,000, which is around the MA50 Weekly. He believes BTC will hit this target before continuing towards a higher high.