Market analyst Doctor Profit said he has begun accumulating Bitcoin within a $54,000 to $64,000 range, using dollar-cost averaging rather than attempting to identify an exact market bottom.

The analyst outlined the approach ahead of this week's Federal Reserve meeting, which he described as the main market event to watch. According to Doctor Profit, markets currently assign a 65% probability that interest rates will remain unchanged and a 35% probability of a rate hike.

In an X post, Doctor Profit said his accumulation plan is already underway and that he is adding Bitcoin gradually inside the stated range: https://x.com/DrProfitCrypto/status/2081449234134372378?s=20

Doctor Profit Details Bitcoin Accumulation Plan

Doctor Profit said his strategy is based on building an average entry through dollar-cost averaging, rather than waiting for Bitcoin to reach one precise low. Dollar-cost averaging is commonly used to spread purchases over time, reducing reliance on a single entry point in volatile markets.

He said he is accumulating between $64,000 and $54,000 and is sharing each purchase privately with Premium members.

The analyst compared the method with his previous short positions. He said he built those short positions between $115,000 and $125,000 instead of entering at a single targeted price. As a result, he said his average entry for those positions was about $119,000.

Doctor Profit said he intends to continue building an average Bitcoin entry over the next one to two months. He also said he plans to accumulate Ethereum and selected altcoins during the same period.

Weekly MA200 Remains a Key Technical Level

The analyst identified Bitcoin's weekly 200-day moving average as an important long-term reference point. Moving averages are widely followed technical indicators because they smooth price data and can help traders identify areas where trend support or resistance has previously appeared.

He said the indicator is currently positioned in the lower part of his preferred $54,000 to $64,000 buying range.

According to Doctor Profit, Bitcoin has tested that area several times in the past. He said that buying near the weekly MA200 has historically resulted in profitable long-term entries.

He also said that achieving an average entry near $58,000 would still be a favorable outcome if Bitcoin ultimately bottoms around $54,000. Doctor Profit cautioned that investors who wait for a perfect bottom often end up entering later at higher prices.

Fed Policy Guidance in Focus

Alongside his Bitcoin outlook, Doctor Profit said Wednesday's Federal Reserve meeting is the most important event of the week. He noted that interest-rate expectations have shifted significantly since the beginning of the year.

According to the analyst, markets now price in a 65% chance that the Fed leaves rates unchanged and a 35% chance of a rate hike. He also said expectations for a September hike are above 80%.

Federal Reserve decisions are closely watched across crypto and other risk markets because rate guidance can affect liquidity expectations, the U.S. dollar, and investor appetite for speculative assets. Doctor Profit said investors will be closely watching the Federal Reserve's comments for additional policy direction that could influence Bitcoin's next move.