BTC may rise after repeated dips trigger long liquidations: Killa

Crypto trader Killa said Bitcoin’s recent short-term rangebound trading and volatility reflect a pattern in which the market repeatedly liquidates long positions below prior lows. Killa said the purpose of the move is to reduce market leverage and gradually weaken long-position investors’ conviction in further upside. In that context, Killa outlined a scenario in which the market repeatedly breaks below lows, prompting investors to expect further declines each time, before the final low forms a local bottom and the price climbs back toward previous highs. Killa described the process as one that makes the winning side’s position as uncomfortable as possible.