Trader Eugene: Going long on Ethereum for the first time since January, there is a significant inertia of ETH shorts in the market

ChainCatcher news, trader Eugene Ng Ah Sio posted in his personal channel, "For the first time since early January, I am going long on ETH. From a technical analysis perspective, ETH has shown a steady and slow upward trend since early April, with a relatively clear trajectory. I believe there is a significant amount of inertia in the market, with many long-term shorts treating ETH as a default hedging tool. If BTC breaks through the $86,000 mark, I expect market vitality to significantly increase, and ETH along with altcoins may become the main beneficiaries."

"As usual, I try to make trading decisions in real-time under incomplete information, while contending with the following factors: my own inherent biases; continuously changing market information; newly established price ranges. This process is not easy, and my views often fluctuate—because it is indeed difficult to determine the best strategy at the moment. To cope with uncertainty, I control risk by reducing position sizes, ensuring that even if I make a wrong judgment (which happens frequently), the fluctuations in profit and loss will not cause substantial harm to my capital."