Trader Killa Says Bitcoin Has Started Rebounding From Its Lows, Keeps Target Above $150,000
Summary
- Killa said Bitcoin (BTC) has started rebounding from its lows.
- Killa said it is better to build positions actively and accept 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 target of above $150,000.
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Prominent crypto trader Killa said Bitcoin has started rebounding from its lows.
In an Aug. 19 post on X, formerly Twitter, Killa wrote that waiting for a perfect bottom could cause investors to miss the entire subsequent upswing. Rather than waiting for an entry point that may never come, it is better to build positions actively and accept the pullbacks that come with that process, he wrote.
Killa also said the Bitcoin cycle is changing, raising the possibility that the traditional four-year cycle could shift. Instead of focusing on a single bottom, he said it is better to buy in tranches across multiple price levels, including $70,000, $65,000, $60,000 and $55,000.
He added that, in the bigger picture, Bitcoin's long-term target remains above $150,000.
