Trader Eugene: I have already gone long on ETH again, so I shouldn’t turn bearish too quickly
According to Bijie.com, trader Eugene Ng Ah Sio posted on his personal channel on August 2nd that he has gone long on ETH again. While the market's bullish sentiment in August was premature, $113,000 in BTC and $3,500 in ETH remain reasonable entry points, with stop-loss orders set at $112,000 and below $3,400. While the hype surrounding Data Availability Technology (DAT) may be fading, substantial structural buying remains in the market, making it inappropriate to quickly turn bearish. Many people are bouncing back and forth between the "bull market is back" and "it's all over," failing to recognize that the market isn't a binary one.