BTC Trader Suffers Record 16th Consecutive Short Loss

A BTC trader has experienced their 16th consecutive short loss, totaling $5.25M since flipping bearish on August 19.

The loss was triggered by a single bullish candle that exited a $38.07M position with a $288K hit after 60 hours.

The BTC price currently sits at $79,766.99 inside the Bollinger Bands, with upper resistance at $80,273.43 and support anchored by the 50-EMA at $75,773.6 and 200-EMA at $68,957.42.

The Relative Strength Index (RSI) remains neutral at 63.25, while the Moving Average Convergence Divergence (MACD) shows a death cross at 829.89, suggesting a healthy retracement toward the 50-EMA support before any continuation.