“First Set Ten Big Goals”: Bitcoin Around $58,000 May Be a Cyclical Bottom; Reducing Position at $64,000 Cost Is Risk Control

Odaily News Trader "First Set Ten Big Goals" Jason (@Jason60704294) stated that the medium-to-long-term trend has not changed and still believes the current area is a cyclical bottom. Barring an extreme structural collapse, he believes the area around $58,000 for Bitcoin will be the bottom zone for this cycle.

Jason said that previously reducing his position by two-thirds at a cost basis of around $64,000 was not a change in his bullish outlook, but rather an active effort to lower position risk and reserve room for extreme market conditions. If future price action aligns with expectations, he will look for opportunities to gradually buy back the positions he trimmed.

He reminded that Bitcoin has recently been in a range-bound market, making position management key to controlling risk. He noted that he typically uses 3x to 5x leverage for trading, while 10x, 20x, or even higher leverage may carry a greater risk of liquidation.