Trader Eugene: Long ETH for the First Time Since January, Market Has a Lot of Inertial Ether Shorts
On April 20, top trader Eugene Ng Ah Sio posted on his personal channel that he was “long ETH for the first time since the beginning of January, and from a technical analysis point of view, ETH has been showing a solid and slow uptrend since the beginning of April, with a clearer trend. It is believed that a large number of inertial shorts in the market have been using ETH as a default hedging tool for a long time. If BTC breaks above the $86,000 mark, market dynamics are expected to increase significantly, with ETH and torrents likely to be the main beneficiaries,” he said.
“As always, I am trying to make trading decisions in real time with incomplete information, while playing with my own inherent biases, constantly changing market information, and newly established price ranges. This is not an easy process, and my opinions are often repeated – as it is truly difficult to determine the best strategy at this time. To cope with the uncertainty, I control risk by reducing position sizes to ensure that even if I make an error in judgment, which happens all the time, the profit/loss fluctuations don’t materially harm my capital.”