BlockBeats News, December 26th, trader Eugene Ng Ah Sio posted on his personal channel stating that he has gone long on Bitcoin and some small-cap altcoins. Now, with almost everyone on holiday break, even the big whales are on the sidelines, not taking the bait. The price did not drop significantly below $84,000. The entire market’s trading volume has completely collapsed, and sellers are quite exhausted.
As long as a few big buyers enter, the thin order book will be easily torn apart. “Going long below 90k has a nice upside potential, with a clear stop-loss level. I’d rather take a stab here now than hesitate and be indecisive at 95k or even 100k. In addition, January has historically been a highly volatile month, and I bet that as December ends, this volatility will return in some form.“
On December 19th, Eugene posted stating that most altcoins have reached the end of their downtrend, while mainstream coins may still have room to fall.
