Trader Killa said Bitcoin does not always rise because price action looks logical, arguing that the market can move higher precisely when it appears irrational. In his view, if every move could be explained neatly and every swing followed a rational pattern, everyone would be able to make money, but that is not how the Bitcoin market works. Killa also disclosed his own positioning, saying he remains bullish on Bitcoin and is holding a long BTC position. He added that he does not plan to close that trade before Bitcoin reaches $126,000. The remarks were reported by ChainCatcher in a short market analysis update.
According to ChainCatcher, trader Killa said Bitcoin does not necessarily rise because its price action is logical. At times, he said, it moves up precisely because the market is not behaving in a way that seems rational.
Killa wrote that if market moves always followed clear logic and every fluctuation could be explained rationally, everyone would be able to make money. He said that is not the case in the Bitcoin market.
He also said he remains bullish on Bitcoin and is currently holding a long BTC position. Killa added that he will not close the position before the price reaches $126,000.
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