Eugene: Altcoin are guiding the future direction of the market.
TL;DR
Trader Eugene Ng Ah Sio claims altcoins are leading the market's future direction, noting low trading volume and potential for volatility in January. He sees upside in long positions below $90,000 with clear stop-loss levels.
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[Eugene: Altcoin are Guiding the Future Direction of the Market] Mars Finance reported on January 2nd that trader Eugene Ng Ah Sio posted on his personal channel that Altcoin are guiding the future direction of the market. Previously, Eugene stated that he had long on Bitcoin and some small-cap Altcoin. Currently, almost everyone is on holiday, even the "sharks" are observing and not actively trading, and the price of Bitcoin has failed to break below $84,000. The entire market's trading volume has completely collapsed, and sellers are quite exhausted. As soon as a few large buyers enter the market, the thin order book will be easily torn apart. "The upside potential for long below $90,000 is quite good, with clear stop-loss levels. I'd rather test the waters here now than wait until $95,000 or even $100,000 to hesitate and be at a loss. Also, January is historically a very volatile month, and I predict that this volatility will return in some form as December ends."