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Crypto

Bitcoin Trader Turns Long After $1.65M Short Profit, Leverages Trade 40x

Guavy AI Editorial Team
Instruments
BTC
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A skilled Bitcoin trader has reportedly closed their short position on 2,000 BTC and turned long on the asset. According to CryptoKing4Ever, this trader made a significant profit of $1.65M from closing their short position.

The price of Bitcoin currently sits at $63,832.19 within its Bollinger Bands. However, the 4h structure remains bearish as the price trades below both EMA50 and EMA200. The MACD also confirms a 'death cross' while the RSI shows neutral momentum.

Institutional desks have noted that any sustained push above the upper band could lead to short-covering towards the EMA50 confluence before the next leg lower, aligning with recent BTC price prediction models.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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