Crypto trader Killa said his previously opened 10x leveraged Bitcoin long was stopped out at breakeven after BTC failed once again to break above $87,000. He described the position as an aggressive trend-continuation trade built on the expectation that Bitcoin would clear the high on its second test. Instead, the breakout did not materialize and price moved back to his entry area.
Looking ahead, Killa said he will watch the $80,000 to $82,000 range for a possible opportunity to reopen the same 10x long setup. He added that he is still holding long positions opened at $62,600 and $76,400, and sees no reason to rush into adding fresh longs for now.
Killa also stressed that risk management remains critical and said his current BTC exposure is already sufficient. Despite the failed breakout, he said he remains bullish on Bitcoin and expects price to move higher, adding that he views the current market as short-term consolidation while his trading decisions are based mainly on a longer time frame.
According to ChainCatcher, well-known trader Killa said his previously opened 10x leveraged Bitcoin long was stopped at breakeven after BTC failed again to break above $87,000.
Breakout thesis failed on the second test
Killa said the position was an aggressive trend-continuation trade. The idea was that BTC would break higher on a second test of the high. That did not happen. Price then moved back to the entry area, and the trade was closed at breakeven.
Watching the $80,000-$82,000 range
For the next setup, Killa said he will monitor the $80,000 to $82,000 range and look for a chance to rebuild the same 10x leveraged long.
He added that he is still holding long positions opened at $62,600 and $76,400. At this stage, he said, there is no reason to rush into adding new longs.
Still bullish on Bitcoin
Killa said risk management is critical and that his existing BTC holdings are already enough. On the broader outlook, he kept a bullish view and said he expects price to continue moving higher.
He also said the current market action looks like short-term consolidation, while his trading decisions are based mainly on a longer time frame.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
