Traders must remember how Bitcoin's intraday volatility raises their liquidation risk by using derivatives exchanges with up to 100x leverage. When it comes to opening leverage positions, knowing the general range of how an asset oscillates is crucial. Any 20x leveraged Bitcoin position can be liquidated with a 5% move in the wrong direction. Those striving for 15x or lower leverage and keeping positions open for more than a couple of days seem to be 'reasonable.'