Starting from 2650, I do not recommend everyone to chase long positions anymore. This is not hindsight; my posts over the past couple of days have advised against going long. I definitely do not recommend chasing long positions at $ETH 2550. I think I've been quite accurate lately, and this is due to my improved market analysis skills. Of course, I learned by following the videos of experienced traders and then understood the differentiation myself. When it comes to simple trading, using a box structure is much better than randomly jumping in like a blind fly.

In the past, I might have entered long positions when the price dropped from around 2730 to around 2620. Now, even if it drops to 2520, I would not enter long. The technical aspects are one thing, but from the perspective of market sentiment and information, there is no justification for going long. Here, I am referring to long-term positions, not short-term trades where you take a quick profit and run.

The cryptocurrency market captures human nature very accurately. The recent upward trend, after the shorts were wiped out, has started to hunt down the longs. The tail end of every market movement is the hardest to profit from; the gains are minimal while the risks are substantial. We have mentioned that the large short positions held at the bottom have been completely wiped out above 2620, and large players have completed their sell-offs above 2700. A pullback at this time is not just a simple correction; at that moment, it was uncertain whether it was a correction. Just around 2650, continuing to chase up to around 2730 does not offer good value for money. That’s why I said that after the first test of 2730, there was a high probability it would test the resistance near 2720 again, making it a good position to short. Continuing to go long here is very irrational.

The more people look at 2800, the more they will be eliminated in this wave. Right now, everyone's bullish sentiment has not been fully released, which is why I did not go long around 2560 today. I also told everyone not to go long; there’s nothing else to it, just a pure analysis based on this mindset, unrelated to technical aspects, but more about market sentiment. When most people are too afraid to continue going long, that may actually be the beginning of a rally. I also didn’t go long around 2520; I feel that the support here is still not strong enough. The bulls are still too numerous; with so many troops crossing a narrow bridge, even a slight fall could lead to disaster. So, I chose to cash out. If there really is an increase, then let the brothers enjoy the good fruits first.