Well-known trader Killa: Still bullish on Bitcoin, will look for opportunities to re-establish long positions in the $80,000 to $82,000 range.

October 7 — Well-known trader Killa said Bitcoin once again failed to break above $87,000, and his previously established 10x leveraged long position was stopped out at breakeven. The position was an aggressive trend-continuation trade, originally expecting BTC to break through on its second test of the high, but after the breakout failed, the price returned to the entry level.

Killa said he will next watch the $80,000 to $82,000 range for an opportunity to re-establish the 10x leveraged long. Currently, he still holds long positions established at $62,600 and $76,400, and sees no reason to rush into adding new longs for now. He stressed that risk management is crucial and that his existing BTC holdings are already sufficient.

As for the outlook, Killa remains bullish and expects prices to continue higher. He believes the current market action is short-term consolidation, while he mainly trades based on longer timeframes.