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No, it isn't an air in a line problem. A transmission does not need to be bled. The problem is a bad seal, or a mis-seated torque converter, or a mis-assembled valve body, or something else making a large internal leak.
Getting it to partially engage at high RPM has destroyed a clutch. Take it out, it needs to be rebuilt.
Rezvani's Latest Post-Apocalyptic Monster Is a Ford F-150 Raptor Underneath
Slideshow: Called the Fortress, the 850-horsepower pickup combines Raptor underpinnings with military-inspired features, survival equipment, and a starting price of $285,000.