BlockBeats news, July 22, trader Eugene Ng Ah Sio posted on his personal channel stating, "I have exited most of my long positions; Ethereum has risen from $2500 to $3800. Achieving such a market movement in two weeks is the best outcome I could ask for."
I believe the 'easy' part of this trade is completed. If I want to continue holding, I need to invest more psychological resilience into breaking through the historical highs. I have never been good at chasing momentum trades, so I will leave that part to those who excel at it. From a position perspective, the market has shifted from 'underpositioned' to 'overpositioned,' with institutional buyers significantly increasing their positions over the past few days.
ETHBTC has also just hit my mid-term target of 0.03, indicating that the entire trading logic has almost perfectly materialized. Now I choose to lock in profits and prepare for the next opportunity."
