Bitcoin Trader Sets Out New Strategy Amid $100,000 Price Fears

A prominent Bitcoin trader known as 'Set 10 Big Goals' (@jasonleo) has updated his trading strategy, citing past mistakes and a changing market outlook. According to an update on September 25, JasonLeo initially remained confident in Bitcoin reaching $100,000 from its recent low of $58,000.

However, he admits to missing out on significant gains due to failed attempts to time the top, with his current average entry price for long positions sitting at approximately $78,000. If BTC falls below $79,000, JasonLeo plans to begin gradually closing his long positions.

In a bid to hedge against potential weekly-level pullbacks if Bitcoin surges rapidly to $100,000 in the short term, he intends to establish partial defensive short positions in the $98,000, $105,000 range. However, this logic will no longer apply if BTC closes daily above $108,000.

JasonLeo also outlined a contingency plan for extensive consolidation between $80,000 and $100,000, considering defensive actions in the $115,000, $125,000 range if necessary.