A weekly report analyzes Bitcoin’s current state and market predictions.
Doctor Profit highlights his recent successful long and short orders and urges caution.
He asserts that the true bull run has not yet begun.
As the crypto market enters a new week, a new Sunday report by a prominent community member sets the stage. In detail, the renowned crypto analyst Doctor Profit’s latest weekly report has stirred anticipation in the crypto community as he delves into the state of Bitcoin and the market’s future.
#Bitcoin – whats next ?The big Sunday report, all you need to know:It was an absolute crazy week once again, four weeks ago the perfect long order at $25.000 region that triggered, two weeks ago the perfect long order that was triggered at 25.9k region towards the target of… pic.twitter.com/1JVOCJ1g9n
— Doctor Profit (@DrProfitCrypto) October 8, 2023
In this comprehensive Sunday report, Doctor Profit reflects on the recent market dynamics, highlighting his successful predictions in the past month. He references a well-timed long order at the $25,000 range, followed by another at $25,900, both leading to impressive gains. Undeniably, Doctor Profit’s accuracy in these predictions has garnered attention.
His report goes on to analyzing the current situation. Here, Doctor Profit offers technical analysis (TA), liquidity pool insights (LCA), and psychological assessments. Specifically, he points out that the MA100 daily indicator is now acting as a resistance level worth monitoring.
A significant liquidity pool is forming above the $28,700 short entry region, prompting him to place new short orders in anticipation of market makers exploiting this liquidity with a potential fake pump.
While acknowledging the market’s bearish sentiment, Doctor Profit sets his sights on the $25,200 range as a short to mid-term target. In fact, he emphasizes that the market is far from entering a bull run. He cautions against being swayed by news of ETFs and bullish pumps, suggesting that market makers may attempt to manipulate perceptions.
Additionally, Doctor Profit advises watching Binance’s larger time frames, predicting significant developments and news in the coming weeks. He reminds readers that the SEC and Binance conflict remains ongoing, particularly with recent Arkham leaks.
Thus, he urges caution and skepticism in the face of overly optimistic analyses claiming an imminent bull market, asserting his confidence that such a phase has not yet begun. In conclusion, Doctor Profit highlights key upcoming events, including the release of US PPI data on Wednesday, US CPI data on Thursday, and Chinese CPI on Friday, all of which offer insights into global inflation trends.
He reiterates his belief that the Federal Reserve will continue raising interest rates due to the bleak state of the world economy. Lastly, Doctor Profit firmly asserts that the bull run remains on the horizon, emphasizing that it has not yet commenced.
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