Trader Eugene Ng Ah Sio posted on his personal channel that Bitcoin has finally lost $100,000 for two main reasons:
1. This is the last line of defense for high-cycle bulls to maintain a bull market structure. For the first time since the start of the cycle in 2022, the 50-week trend line has been officially broken.
2. 100,000 dollar is a very strong psychological level. After being held 3-4 times before, it finally fell, and now it will be regarded as a new resistance level.
Based on the above, I have no interest in this decline to go bottom fishing and will focus on the 90,000 dollar as the first area. It's time for defensive mode again.
Trader Eugene: There is currently no intention of bottom fishing, 90,000 dollars will be the first area of concern
2025-11-14 05:25:42
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