Trader Killa Says Bitcoin Has Started Rebounding From Lows, Keeps Long-Term Target Above $150,000
Summary
- Killa said Bitcoin (BTC) has begun rebounding from its lows.
- Killa said it is better to build positions aggressively and absorb pullbacks than to wait for a perfect bottom.
- Killa said investors should buy in tranches at $70,000, $65,000, $60,000 and $55,000, while keeping a long-term Bitcoin price target above $150,000.
Forecast Trend Report by Period
Prominent crypto trader Killa said Bitcoin (BTC) has begun rebounding from its lows.
In a post on X on Aug. 19, Killa said waiting for a perfect bottom could cause investors to miss the subsequent rally entirely. He wrote that it is better to build positions aggressively and absorb the pullbacks that come with that process than to wait for an entry point that may never come.
Killa also wrote that the Bitcoin cycle is changing, raising the possibility that the traditional four-year cycle could shift. Rather than focusing on a single bottom, he said investors are better off buying in tranches at multiple price levels, including $70,000, $65,000, $60,000 and $55,000.
He added that, in the bigger picture, Bitcoin's long-term price target remains above $150,000.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.