Trader Eugene: Currently not looking to buy the dip, $90,000 will be the first key area of interest

BlockBeats News, November 14th, trader Eugene Ng Ah Sio posted on his personal channel, stating, "Bitcoin has finally fallen below $100,000, mainly for two reasons:

1. This is the last line of defense for the high-cycle bulls to maintain the bull market structure. Since the beginning of this cycle in 2022, the 50-week trendline has been officially broken for the first time.

2. $100,000 is an extremely strong psychological barrier. After being held around this level 3-4 times, it has finally been breached. Now it will be seen as a new resistance level.

Based on the above situation, I have no interest in bottom fishing this time, and I will consider just above $90,000 as the first key support zone. It's time to switch to defense mode."