Trader Eugene: Bitcoin May Test Strategy's Position Cost Price of $66,000

BlockBeats News, March 13th: Top trader Eugene Ng Ah Sio posted on his personal channel, stating, "Bitcoin is still expected to maintain a downtrend on a high timeframe. Although there is a possibility that Bitcoin has bottomed at $76,000 or formed a double bottom in the $74,000 to $76,000 range, this probability is decreasing. From a market structure perspective, the current market has not seen a sufficient level of panic selling to complete a deep correction after this cycle's excessive expansion. Bitcoin is testing the holding cost price of $66,000, and breaching the psychological barrier is only a matter of time."

"The uptrend or range on all timeframes has been broken, and $75,000 is the final key support level for Bitcoin. Considering the correlation between the crypto market and the stock market, it is difficult for figures like Trump, Bessent, or Powell to trigger a market reversal in the short term. If tonight's PPI data performs well, shorting at the high point in the $80,000 range may be considered."