According to BlockBeats, trader Eugene Ng Ah Sio announced on his personal channel that he has exited most of his long positions after Ethereum's price increased from $2,500 to $3,800. He expressed satisfaction with the rapid price movement over the past two weeks, considering it an optimal outcome.
Ng Ah Sio noted that the "easy" part of the trade is complete, and further holding would require greater psychological resilience to surpass historical highs. He admitted that he is not adept at momentum trading, preferring to leave such strategies to those more skilled in that area. From a positioning perspective, the market has shifted from "underweight" to "overweight," with institutional buyers significantly increasing their holdings in recent days.
Additionally, the ETHBTC pair has reached his mid-term target of 0.03, indicating that his trading logic has been nearly perfectly realized. Ng Ah Sio has decided to lock in profits and prepare for the next opportunity.
