Bitcoin’s (BTC) Still in a Bull Market, But a Correction Could Be Coming First

Doctor Profit remains bullish on BTC's broader trend but expects a correction before the next leg higher. Bitcoin struggled around $83,000 on Monday after falling 2.2% over the past 24 hours. The decline came as fresh uncertainty around Middle East diplomacy weighed on market sentiment. Weakening momentum and bearish divergences point toward a possible short-term correction before recovery. The Road Ahead In the latest report, Doctor Profit said that his earlier $88,000 target has effectively been reached after Bitcoin climbed from around $60,000 to $87,300. He has now predicted that the crypto asset could pull back toward $79,000, around the 50-week moving average, before continuing higher. Doctor Profit flagged bearish divergences in RSI, MACD/PPO and MFI, along with weaker trend strength in ADX, as signs of a near-term correction. However, he maintained, “I consider Bitcoin to be in a BULL MARKET, but I expect a correction WITHIN that bull market.. At $79K, I want to see whether the MA50 Weekly holds as support.” Meanwhile, Ali Martinez said that Bitcoin is retesting the $82,000 level after breaking out of a double-bottom pattern, a level that could now act as support. If the cr...