On September 27, top trader Eugene Ng Ah Sio took to social media to announce his strategy shift, revealing that he has reduced some positions and sold certain assets despite the prevailing fear of missing out (FOMO) that looms over the market. Ng Ah Sio, known for his disciplined approach, highlighted that he remains steadfast to his trading plan, emphasizing the importance of strategy in a volatile market environment. Just days prior, on September 25, Ng Ah Sio communicated his insights on the ongoing bull market through social media.
He made it clear that he avoids the pitfalls of chasing higher profits impulsively as asset prices ascend. According to his analysis, the price range of 65k to 68k is deemed a reasonable zone for profit-taking, particularly for early investors who have seen substantial returns. Ng Ah Sio pointed out that a significant wave of sidelined funds is expected to make their entrance into the market when prices reach the 65k level, which could potentially drive the market upward in a final surge before a possible correction. In his strategic outlook, Ng Ah Sio emphasized skepticism regarding the price exceeding the 70k threshold prior to the upcoming elections, reinforcing his decision to maintain his current positions rather than making further investments at this juncture.
He articulated that if the market does reach 68,000 USD, his plan is to liquidate his assets and await a more favorable entry point if the price retracts back to the 60k range, showcasing his calculated trading methodology in response to fluctuating market conditions..