Odaily Planet Daily reported that trader Doctor Profit said in a post that he has shorted Bitcoin at $86,200 and is also placing additional shorts in the $86,500 to $89,500 range to build a swing short position. The current target is still $79,000. When it reaches that level, he will decide whether to take profit and close the short positions based on Bitcoin’s price reaction, or continue holding the shorts.

He said the deepest pullback range he is considering is $69,000 to $71,000, and he does not expect the price to fall to lower levels. Although his short entered at $86,200 is currently working, he will assess the market price level by level rather than directly betting on a deep pullback.

Next, it will first observe the support behavior around the $79,000 level, and on that basis determine whether the market will continue to decline or reverse and extend the bull run, setting a new local high.