Bitcoin BTC/USD traders are taking profit on the rally to $87,000, expecting a pullback before more possible upside.

What Happened: Pseudonymous crypto trader Astronomer has closed a significant Bitcoin long position at $87,000, booking substantial profits after riding the position “all the way from rock bottom.”

In an X post on Thursday, the trader noted they had targeted the $87,000 level for “a long time” and executed the position despite widespread market skepticism. “Knife catching is hard,” Astronomer wrote, before countering, “Not when the world is against you as you call a trade entry.”

The trader emphasized that their bullish high timeframe outlook remains intact, but they now anticipate a pullback to the low $80,000 range.

“I think a pullback is coming… and there is an Astro Block at 83.5k which is an impeccable magnet,” they explained, suggesting this level could provide an attractive re-entry opportunity for long positions.

For now, Astronomer is holding spot and waiting for a high-probability setup. The trader predicts bearish intraweek action, but a bullish intramonth outlook.

Also Read: Bitcoin Drops 16% In A Month: Are Bear Market Signals Flashing?

What’s Next: Astronomer also noted the CME gap has closed at $87,200, which coincided with their profit-taking level.

This technical development, combined with reaching their long-standing price target, provided the confluence needed to exit the position completely.

For traders following Astronomer’s analysis, the key levels to watch include the $83,500 “Astro Block” support and potential resistance in the “low 90’s POI” (Point of Interest) range should Bitcoin continue higher before any pullback materializes.

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