I've promised several times to myself that, at the next bear bottom of the market, I would open a substantial LONG position on Bitcoin.

I'm not talking about an exaggerated leverage, rather I would opt for something between 2x and 3x.

I really want low risk of liquidation: the rule of thumb for long positions are as following:

- if leverage is 2x, you'll be liquidated if the price falls down to about 50% from your entry price

- if leverage is 3x, you'll be liquidated if the price falls down for 33% from your entry point

- ...

- generalising: if position leverage is Nx, liquidation engine will catch you when the price moves down by (100÷N) % 

So that people betting on a price movement with 100x leverage can:

- gather a 2x win if the asset price moves just a

1% higher

- get completely liquidated if price moves just 1% lower

That is more or less the same as playing roulette at Casino betting on, say, a red outcome.

I highly suggest the readers not to try 100% leverage; everything above 5x leverage is to be considered highly risky and for experts only.

Keep also in mind that exchanges GAIN their life's on liquidation events (and not just standard trading fees), and often it can get spooky on the conditions for liquidation: for example, if your position has 2x leverage an exchange may liquidate you if the price dropped for a 45% only (instead of the ideal 50%) without giving much explanations.

So, coming back to Bitcoin, where would you feel comfortable with opening a LONG position of 3x ? This should be the target price that, once reached, you are 100% convinced that the price  really cannot go lower by another 33% (say 30% instead, just to stay safer).

For example, at 64'000 $, betting on a 3x LONG position means: 

- you get liquidated if price goes down to around 42 - 44 '000 $ 

- double your original money every 21'000 $ of price increase; i.e. at doubling at 85'000, doing a 4 fold at 106'000 $, and a 6 fold at 127'000 $. 

This seem to me an acceptable risk!