Eugene: Shitcoin is Pointing the Way Forward for the Market

BlockBeats News, January 2nd, trader Eugene Ng Ah Sio posted on his personal channel stating that altcoins are guiding the market's future direction.

Previously reported, Eugene stated that he has taken long positions on Bitcoin and some small-cap altcoins. Now, almost everyone is taking a holiday break, even the "whales" are just watching and not taking the bait. The price failed to effectively drop below $84,000. The entire market's trading volume has collapsed, and sellers are quite exhausted.

As long as a few large buyers enter the market, the thin order book will be easily torn apart. "Longing below $90,000 has a good upside potential, with a clear stop-loss level. I would rather take a chance here now than hesitate or be indecisive at $95,000 or even $100,000. In addition, January has usually been a month of high volatility historically. I predict that as December ends, this volatility will return in some form."