Crypto trader Killa said Bitcoin failed once again to break above $87,000, leading his previously opened 10x leveraged long to stop out at breakeven. He described the position as an aggressive trend-continuation trade built on the expectation that BTC would break higher on a second test of the local high. Instead, the breakout failed and price returned to his entry level.
Looking ahead, Killa said he will watch the $80,000 to $82,000 range for a chance to reopen the same 10x leveraged long. At the same time, he noted that he is still holding long positions opened at $62,600 and $76,400, and said there is no reason to rush into adding more exposure right now.
Killa also stressed that risk management remains critical and said his current BTC holdings are already sufficient. Despite the recent failed breakout, he maintains a bullish view on Bitcoin and expects price to continue moving higher. In his view, the market is now trading in a short-term range, while his positioning is based mainly on a longer time frame.
According to BlockBeats, trader Killa said on Oct. 7 that Bitcoin failed once again to break above $87,000, and his previously opened 10x leveraged long was stopped out at breakeven.
He said the position was an aggressive trend-continuation trade. The idea was that BTC would break higher on its second test of the recent high, but that breakout did not materialize and price moved back to his entry area.
Killa watches $80,000 to $82,000 for a new entry
Killa said he is now watching the $80,000 to $82,000 range for an opportunity to reopen that 10x leveraged long.
He added that he is still holding long positions established at $62,600 and $76,400, and said there is no reason for him to rush into adding new longs for now.
Bullish view remains in place
Killa said risk management is critical and noted that his current BTC exposure is already sufficient.
On the broader outlook, he remains bullish and expects Bitcoin to keep moving higher. He also said the current market action reflects short-term consolidation, while his trading decisions are based mainly on a longer time frame.
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