Trader Killa said in a social media post on Sept. 10 that Bitcoin has rallied 27% after spending two months consolidating at the bottom, while the broader market still remains in disbelief. In his view, the lower gap does not have to be fully filled, because it was created when roughly $6 billion in shorts were liquidated, and that figure only reflects publicly visible liquidation data. Killa pointed to the late-2022 rally as a reference, saying the market then saw only a partial fill before buyers stepped back in quickly. He added that a similar setup this time could mean a test of $70,000, though he stressed that such a move is not guaranteed. From a technical standpoint, Killa said he does not expect BTC to revisit his 2x long entry at $62,600, or even his publicly shared spot average cost at $65,800. His worst-case retest scenario is slightly below $70,000, with a capitulation-style move possibly reaching the high-$69,000 area. Outside of that, he said he does not expect any clearly deeper correction and sees BTC likely holding the $73,000-$75,000 range before eventually advancing toward $85,000.
According to BlockBeats, trader Killa said in a social media post on Sept. 10 that Bitcoin rose 27% after spending two months moving sideways at the bottom, while the market still remains in disbelief.
Killa said there is no necessary reason for the lower gap to be fully filled. He said the gap was originally created when roughly $6 billion in short positions were liquidated, and that figure only covers liquidation data visible to the public. On that basis, he said the lower gap does not need to be completely filled and is likely to remain unfilled.
He also referred to the rally at the end of 2022, saying the market at most saw a partial fill, and even that was quickly bought back. If a similar pattern appears this time, BTC could test the $70,000 level, though he said that does not necessarily have to happen.
From a technical perspective, Killa said he does not think BTC will return to his 2x long entry at $62,600. He also said he does not expect it to revisit his publicly shared spot average cost of $65,800.
In his view, the worst retest scenario would be only slightly below $70,000. If some form of capitulation appears, the price could move to somewhere above $69,000. Beyond that, he said he does not expect any materially deeper correction. He added that even such a scenario may be a stretch.
Killa said BTC is likely to hold the $73,000 to $75,000 range with relative ease before eventually making another move higher toward $85,000.
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