- Over the past six months, trader Machi Big Brother has lost $74 million, but he continues to make trades.
- And now he has a long position open on Ethereum, which has already resulted in an unrealized loss of $168,317.
- If the ETH rate falls further, the position will be liquidated.
Trader Jeffrey Huang, nicknamed Machi Big Brother, continues to suffer losses while trading futures on Ethereum.
In March, the editorial board Happy Coin News reported, that Machi Big Brother had lost $74 million over the past six months, but this didn’t discourage him and he continued making trades. However, Juan learned from his mistakes and on April 2 closed contract to buy ETH so that the position is not liquidated.
Jeffrey is currently open One Ethereum long position worth $10,3 million resulted in an unrealized loss of $168,317. It will be liquidated if the cryptocurrency’s price drops to $2,031.
Machi Big Brother Futures Information
The reason for Juan’s failures is that he trades against the market, opening long positions during a bearish trend. For example, he opened his last long position on Ethereum when the coin was trading at $2,084. Apparently, the trader expected the upward trend that began on March 30 to continue, but miscalculated, because the price of the digital asset suddenly dropped. fell.
Given that the ETH price has once again fallen below the 800-hour exponential moving average, the likelihood of the bearish trend continuing remains high. The RSI’s movement toward the oversold zone on the daily chart also supports the downward trend. Therefore, Machi Big Brother risks liquidating another position.
800-hour EMA on the Ethereum chart
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