On September 9, top trader Eugene said on his social platform, “The volatility in the past six months has been very cruel, but very constructive in the long run because it has created conditions for large-scale counter-trend layouts.
Market participants become accustomed to selling when prices go up, trading in ranges, because doing anything else would just lead to endless back and forth, or worse, so when the vast majority decide to hold the coins again, no one is ready for what will happen. Those who blindly bought and held have died a hundred times, so these people are not common now.
The spark that triggers a trend change can be anything. I'm not saying this moment is the bottom, but I'm willing to try enough (with stops) to make sure I'm one of the first people to get covered when that huge move up finally happens.
If I have to do it 10 times, I will do it 10 times.”
