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

13 hours ago

On July 22nd, trader Eugene Ng Ah Sio posted on his personal channel and said, "I have already sold off the majority of my long positions. Ethereum has gone up from $2500 to $3800. To witness such a price movement within two weeks is the best result I could have hoped for." "I think the 'easy' part of this trade has come to an end. If I were to keep holding, I would need to have more mental strength when it comes to breaking the all-time high. I have never been good at following momentum trades, so I leave this aspect to those who are skilled at it. From a position standpoint, the market has changed from 'underleveraged' to 'overleveraged', and institutional buyers have significantly increased their positions in the past few days." "ETHBTC has also just reached my mid-term target of 0.03, indicating that the entire trading concept has been almost completely achieved. Now, I decide to take profits and get ready for the next opportunity."

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