Trader Predicts Bitcoin Surge to $83K-$87K Then Crash

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Those calling for shorts too early are helping push prices higher, and their liquidations will finance the setup for the larger move down.

Doctor Profit, a well-known crypto trader, has said that Bitcoin (BTC) could climb into the $83,000 to $87,000 range before a sharp sell-off.

According to him, both bulls and bears are about to get wiped out in what he calls a “brutal event.”

A Bull Trap Playing Out to Plan

In his April 27 Sunday Report on X, Doctor Profit laid out his positioning in detail. After riding a long from $71,000, he’s now preparing to take profits and “add more shorts to the existing 120K short position” in the $83,000 to $85,000 range.

More than 90% of his short orders are clustered there, and he still sees the $79,000 to $84,000 zone as “a great area to accumulate shorts.” However, he said he’s “certain” the market pushes past $83,000 first, which is why he moved his entries higher.

The market watcher also flagged a resistance level sitting at $87,700, just 3% above the $85,000 area, and kept it on the table as a possible extension before the larger drop. His longer-term targets remain below $50,000, a call baked into his plan well before the current bounce started.

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