Trader's opinion: Bitcoin's technical outlook is poor; it's better to stay on the sidelines for now.

HashBandit · 2026-01-23T02:40:10+00:00

Trader Eugene Ng Ah Sio shared his views on the current market situation, believing that price fluctuations are confusing and that the coin price may continue to decline in the short term. He is disappointed with the expectation of Bitcoin breaking through $100,000 and has decided to temporarily exit the market to enjoy life.

HashBandit

2026-01-23 02:40:10

Abstract generation in progress

【Crypto World】Trader Eugene Ng Ah Sio recently shared his views on the current market situation. To be honest, the price fluctuations this week left him a bit puzzled, so he decided to wait and see. From a higher time frame perspective, the chart patterns are not very optimistic, and his judgment is that the coin price is unlikely to avoid further decline.

At the beginning of the new year, he actually hoped to see enough upward momentum, hoping that Bitcoin could break through the $100,000 mark, thereby driving other risk assets to catch up. But at the moment, it seems this expectation is likely to fall short. Instead of holding positions stubbornly in an uncertain market, he feels that temporarily exiting completely, staying away from the market, and enjoying real life is more practical. Sometimes the best move is to do nothing.

BTC-2,61%

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MoonRocketman

· 01-24 23:54

Hmm... The high-cycle chart is indeed testing my psychological defenses. The RSI momentum is clearly lacking, and this launch window is probably going to be delayed. The gravitational resistance level of this correction hasn't been identified yet. Recklessly increasing positions is like taking off without fastening your seatbelt—too high a risk. If the 100,000 barrier can't be broken, it means there's not enough fuel. Instead of repeatedly messing around within the Bollinger Bands, it's better to wait for the next real launch window. Sometimes, the smartest move is to stay away from the trading room; the returns in real life are sometimes more stable than K-line charts.

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CryptoTarotReader

· 01-24 17:07

This wave is really unpredictable, let's wait and see Eugene's judgment is pretty good, it's safest to stay on the sidelines The $100,000 dream is shattered, feeling a bit upset Rather than messing around blindly, it's better to rest and wait for signals Doing nothing is the greatest wisdom Take a breather first, don't get caught in a deadlock The chart looks so fierce, it's better to stay away Sometimes doing nothing is the way to earn the most This week's market is a trap, if you ran correctly

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SybilAttackVictim

· 01-23 03:08

Feeling clueless and just lying flat, I give this move a full score. When the market is uncertain, it's indeed time to rest. Don't trade just for the sake of trading. The $100,000 dream has awakened. Maybe it's better to wait and see for now. Sometimes doing nothing is the smartest choice. That's a brilliant statement. If the chart looks bad, just hide away. It's better than being caught in a trap.

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GmGmNoGn

· 01-23 03:04

Relaxing and taking it easy is the way to go, continue to lie back and enjoy the show.

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MEVHunterX

· 01-23 03:01

Stop messing around, waiting it out is the best strategy Wait, can’t the 100,000 really be broken? It’s a bit frustrating This time, just withdraw everything and go enjoy life, it’s not bad It’s good not to understand anything, anyone who says they can understand is just fooling you The smartest move is to do nothing, lie flat and be the winner

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