Jason60704294: $93M Drawdown on BTC Longs

@Jason60704294 has posted that leverage is fully unloaded at current levels after cumulative profits fell from above $110 million in early October to $17.76 million, a drawdown exceeding $93 million or roughly 620 million RMB.

The trader remains constructive on BTC, citing a black swan that broke 78k support yet still forecasting a move to 120k this year once Binance reopens withdrawals and compensates users.

With price at $68845.47 testing the lower Bollinger band near $69659 while the 50-EMA at $74518 and 200-EMA at $78656 sit well above, the 4h structure shows a clear bearish trend confirmed by MACD death cross at -1350 and RSI at 17.62 in deep oversold territory; institutional desks are watching for any bounce off the lower band before the next leg lower or a relief rally into the 76k-78k zone where the trader plans to reload.