Trader Eugene: No intention to buy the dip at the moment, $90,000 will be the first area of interest

Jinse Finance reported that trader Eugene Ng Ah Sio stated on his personal channel that bitcoin has finally lost the $100,000 level, mainly due to two reasons: 1. This was the last line of defense for high-cycle bulls to maintain the bull market structure. Since the start of this cycle in 2022, the 50-week trend line has been officially broken for the first time. 2. $100,000 is a very strong psychological barrier. After being defended 3-4 times previously, it has now finally been breached and will be regarded as a new resistance level. Based on the above, I have no interest in buying the dip during this decline and will focus on the area just above $90,000 as the first region of interest. It's time to switch to defense mode again.