Renowned trader Killa: Bitcoin is expected to pull back to slightly below $70,000 at most, and the bottom gap does not necessarily need to be filled.

BlockBeats news, September 10: Renowned trader Killa posted on social media that Bitcoin had been consolidating at the bottom for two months, after which it rallied 27%, while the market remains in a state of disbelief. There is no inevitable reason the gap below needs to be fully filled. The gap originally formed because about $6 billion in shorts were liquidated, and that is only the publicly visible liquidation data in the market. So, based on this context, the gap below does not need to be fully filled, and it very likely will not be filled.

In the rally at the end of 2022, at most only a partial fill was seen, and even then, it was quickly bought back up. If a similar situation occurs this time, it could mean BTC testing the $70,000 level. But that does not necessarily have to happen.

Killa said that technically, he does not think BTC will return again to his 2x long entry point at $62,600. It will not even return to his publicly shared spot average cost price of $65,800. In the worst-case retest scenario, that is slightly below $70,000, and if some form of capitulation occurs, it could go to just over $69,000. Beyond that, he does not expect any clearly deeper pullback. And even in that case, it might be somewhat of a stretch. BTC will likely easily hold the $73,000-$75,000 range, and then eventually make another leg higher toward $85,000.