$BTC Whale Builds a Massive Short Position
A major crypto whale has reportedly added another 1,010 #BTC to short position, bringing the total to around 1,792.56 BTC, worth approximately $114 million.
The reported average entry is near $63,999. Looking at the attached BTC/USDT 1H chart, it's trading around $63,745, below the EMA 25 ($63,821) and EMA 99 ($64,274), while RSI remains below 50. This suggests the short-term structure is still weak/bearish, although it is trying to stabilize after bouncing from the $63,211 low.
📉 Key support: $63,200–$63,100
📈 Key resistance: $63,820, then $64,100–$64,300
A break below $63,200 could increase selling pressure, while reclaiming $64,300 would weaken the bearish setup.
#BTCUSDT #TechnicalAnalysis
A major crypto whale has reportedly added another 1,010 #BTC to short position, bringing the total to around 1,792.56 BTC, worth approximately $114 million.
The reported average entry is near $63,999. Looking at the attached BTC/USDT 1H chart, it's trading around $63,745, below the EMA 25 ($63,821) and EMA 99 ($64,274), while RSI remains below 50. This suggests the short-term structure is still weak/bearish, although it is trying to stabilize after bouncing from the $63,211 low.
📉 Key support: $63,200–$63,100
📈 Key resistance: $63,820, then $64,100–$64,300
A break below $63,200 could increase selling pressure, while reclaiming $64,300 would weaken the bearish setup.
#BTCUSDT #TechnicalAnalysis