Top Trader Eugene: Investors are feeling anxious about holding spot, market may enter a consolidation phase

BlockBeats News, December 22, Top trader Eugene Ng Ah Sio shared his perspective on the altcoin market, "Altcoins have quickly fallen back to their wick lows less than 48 hours after forming those lows. Investors holding spot assets are extremely anxious and eager to sell off. The market may enter a continued downtrend or consolidation phase, or experience a sharp sell-off followed by a bottoming out in a short period of time."

BlockBeats Note: Wick Lows are a pattern in candlestick charts, referring to the thin line extending downward from the candlestick's body, reflecting the difference between the lowest price and the open or close price within a certain trading period. The formation of a wick low is usually due to the price experiencing a significant dip during the trading process but then being lifted by bullish forces, eventually closing higher than the lowest price.