Top trader Eugene: Investors are anxious about holding spot assets, and the market may enter a consolidation phase
On December 22, top trader Eugene N
g Ah Sio expressed his views on the altcoin market, "Altcoins (Alts) quickly fell back to these lows within 48 hours after forming wick lows, investors are extremely anxious about holding spot assets and eager to sell and exit. The market may enter a sustained decline or consolidation phase, or experience a sharp sell-off and bottom out in a short time.]
Note: Wick Lows is a form in candlestick charts, referring to the thin line extending downward from the candlestick body, reflecting the gap between the lowest price during a trading period and the opening or closing price. The formation of wick lows is usually due to a significant price drop during trading, but then being pulled up by bullish forces, with the final closing price being higher than the lowest price.