Trader Eugene: Bullish on the Bitcoin market, believes now is a good opportunity to go long
According to TechFlow, on December 26, trader Eugene stated that although market participation is currently sluggish, the bitcoin price has not fallen below the $84,000 support level, indicating that selling pressure has largely been exhausted. He pointed out that trading volume has shrunk significantly, and the thin order book means that just a few large buyers could trigger a rapid price surge.
Eugene believes that going long below $90,000 offers a better risk-reward ratio, and investors have clear invalidation levels to reference. He prefers entering the market now rather than hesitating when the price rises to $95,000 or $100,000.
In addition, Eugene mentioned that January has historically been a highly volatile month, and he expects market volatility to return as December comes to a close.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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