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Crypto

Trader Books $48K Profit on BTC Short After 17 Consecutive Losses

Guavy AI Editorial Team
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BTC ETH
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Trader 0x004e has closed a Bitcoin short position for a $48,000 profit. This comes after they had posted 17 consecutive losses on BTC and ETH shorts, totaling around $5.3 million.

The trader's success is notable because it occurs in the context of a bullish trend for Bitcoin. The price is currently holding above both its EMA50 ($76,632.75) and EMA200 ($69,614.18), with an RSI(14) of 54.8 indicating neutral sentiment.

The technical analysis suggests that a healthy pullback toward the 50-EMA may occur before any further price movement. The Bollinger Bands are currently in use, with upper resistance at $80,448.44 and lower support at $77,986.48.

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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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