Trader Eugene: Going Long on Ethereum for the First Time Since January Amid Market's Inertial ETH Short Positions

Trader Eugene Ng Ah Sio stated on his personal channel, "I am going long on ETH for the first time since early January. From a technical analysis perspective, ETH has shown a steady and slow upward trend since the beginning of April, with a relatively clear trajectory. I believe there are a large number of inertial short positions in the market using ETH as a default hedging tool. If BTC breaks the $86,000 mark, market vitality is expected to increase significantly, and ETH along with altcoins might become the major beneficiaries."

"As usual, I try to make trading decisions in real-time with incomplete information, while contending with the following factors: my inherent biases; continuously changing market information; and newly established price ranges. This process is not easy, and my views often fluctuate—as it is indeed difficult to determine the best strategy right now. To address uncertainty, I mitigate risk by reducing the size of my positions, ensuring that even if my judgment is incorrect (which happens frequently), the swings in gains and losses will not cause substantial harm to my capital."