Gate News reports that on March 16, trader Eugene Ng Ah Sio posted on his personal channel stating that he has shifted to a long position. Eugene pointed out that despite the overall weakness in global risk assets, the crypto market still shows strength, marking the first sign of relative strength since Bitcoin crashed below $60,000.
Eugene said that although he missed the bottom, following the strong momentum after breaking out of the consolidation range is his preferred approach, as it allows better risk control. At the same time, several altcoins have formed very natural arc bottom patterns, leading him to believe that the short-term upside potential for the crypto market is higher.
Eugene predicts that if Bitcoin effectively breaks above $74,000, the entire crypto market could fully launch, with major coins like ETH and SOL returning to their previous trading ranges (ETH $2,400 / SOL $100).
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