Trader Eugene: Closed most of the long positions, locked in profits, ready for the next opportunity

BlockBeats News, July 22nd, trader Eugene Ng Ah Sio posted on his personal channel stating, "I have already exited from the majority of my long positions. Ethereum has surged from $2500 to $3800. To see such a price movement within two weeks is the best outcome I could ask for."

"I believe the 'easy' part of this trade has been completed. If I were to continue holding, I would need to have more psychological resilience when it comes to breaking the all-time high. I have never been good at chasing momentum trades, so I leave this part to those who are good at it. From a position perspective, the market has shifted from 'underleveraged' to 'overleveraged,' 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 thesis has been almost perfectly realized. Now, I choose to take profits and prepare for the next opportunity."