BTC Drops to 115K USD: Top Trader Reveals Strategy to Survive the Crash

Bitcoin, the largest cryptocurrency in the world, started the new week with a sharp fall to 115,193 dollars, down nearly 3% from the peak of 118,000 dollars yesterday. However, according to the famous cryptocurrency analyst Doctor Profit, this decline is not surprising as he had predicted a short term bearish trend, and the market is unfolding exactly as he anticipated. BTC Fights to Surpass $116,000 After falling to $115,000, Bitcoin is currently stuck in a narrow range. The battle between buyers and sellers is becoming more intense as BTC struggles to break through the important resistance area of $116,000. According to analyst Doctor Profit, this level is acting like a wall. Every time Bitcoin approaches this threshold, sellers quickly push the price lower. The $116,000 mark is not just a mere number. If Bitcoin surpasses this level, momentum could be built for a larger bullish move. However, if it continues to fail, the bears may regain control and push the price lower. Doctor Profit calls this the "success or failure" zone of Bitcoin in the short term. Therefore, Doctor Profit anticipates that the next two weeks will be almost sideways, with Bitcoin fluctuating within a narrow range of 8%. He calls this period "the calm before the storm." However, his outlook for September is much gloomier, warning that it could become "a very dark month" for cryptocurrency. History Shows a Fiery Red September for Bitcoin However, history seems to support his viewpoint. Data shows that 8 out of 12 times, Bitcoin has ended September with a loss, delivering an average return of -3.77%. This pattern closely aligns with Doctor Profit's prediction of a strong upcoming correction. Doctor Profit's Strategy for September Doctor Profit has outlined a strategy for next month, and it's very simple. Prepare for a correction, short when Bitcoin climbs to the top of the current range, then buy back at a lower price after the price falls. He also noted that selling now and buying back in September could be a wise decision, as lower prices may provide investors the opportunity to accumulate more Bitcoin for the same amount of money. Macro Events Can Provide Additional Fuel In addition, this week there are many important events in the United States, including the Trump-Zelensky meeting, the minutes of the (FOMC) meeting, the number of unemployment claims, and Jerome Powell's speech. Therefore, each of these results could strongly impact the cryptocurrency market, either accelerating or delaying the correction.