PANews October 11 news: Trader Killa posted his views on Bitcoin's (BTC) future price trend. He said the most ideal scenario currently is for BTC to continue rising before the U.S. midterm elections, strengthening the market's bullish narrative and breaking through its previous high; afterward, the market may, as in past cycles, see a correction after the midterm elections end, but this pullback is not expected to lead to the formation of a new cycle low, and may instead establish a higher low.
Killa said that if BTC chooses to decline before the midterm elections, he believes the market is more likely to see a rebound after the election, with focus on the area around $95,000. Midterm elections are usually seen by the market as a potential bullish or bearish catalyst. But based on current price action, market sentiment, and recent long liquidations, he believes shorts currently face potentially higher risk than longs. He also cited historical data, saying that in the past 4 U.S. midterm elections, 3 saw weaker market conditions 1 to 2 months after the election, which by that sample gives a probability of about 75%. Therefore, he believes the market may be more inclined to see a clear release of risk after the midterm elections rather than before them.
However, Killa emphasized that his judgment is based on historical data and market statistics, rather than simply hoping for prices to rise. He said he still holds the previously established 10x BTC long position, as well as long positions entered near $62,600 and $76,400, and all positions remain at full size.