How the whale’s 20X long could impact key BTC levels
The whale decided to re-enter another BTC long with 20x leverage on a $200 million position (1,894 BTC), which was a big risk considering the current volatility.
Daily spikes in ROI on the chart indicated times when it performed well. However, sharp drawdowns of ROI, particularly in early April, suggested a propensity to risk.
Liquidation of positions with a 100% ROI in April and more stable trading indicated a guarded recovery.
Since high leverage is once again in the reckoning, a breakout above the resistance may be huge in returns. However, a failure there would increase the losses.
This series of Bitcoin longs might either put him back on track or intensify the recent loss.
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