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

Odaily Planet Daily News: Trader "Set Ten Big Goals First" Jason (@Jason60704294) stated that the medium- to long-term trend has not changed and he still believes the current area is a temporary bottom. Without an extreme structural collapse, he believes the area around $58,000 for Bitcoin will be the bottom zone for this cycle.

Jason stated that his previous reduction of two-thirds of his position 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 the subsequent price action aligns with expectations, he will look for opportunities to gradually buy back the positions he reduced.

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