8-21 Ethereum Market Analysis
Today everyone must hold onto these long positions firmly—like a leech sticking on—so long as you don’t hit the stop-loss. Even, you can reach 2550 and take profits in batches. The reasons are as follows:
Ethereum currently doesn’t have heavy long-side chasing. Instead, there’s been continuous, slow short-side entry. And even though Bitcoin rose first, it hasn’t made many people think Ethereum will catch up. Even the dense long/short limit orders aren’t there either. And after such a big move, the real liquidity in perpetual contracts is still not good, daily activity is concerning. Considering we need to bring liquidity back to the crypto-equities market: if it’s up 20% and not many people chase it, then it has to rise more before a larger number of people start chasing.
So today this long position may again be like the other day—taking a large chunk of profit. $ETH
Today everyone must hold onto these long positions firmly—like a leech sticking on—so long as you don’t hit the stop-loss. Even, you can reach 2550 and take profits in batches. The reasons are as follows:
Ethereum currently doesn’t have heavy long-side chasing. Instead, there’s been continuous, slow short-side entry. And even though Bitcoin rose first, it hasn’t made many people think Ethereum will catch up. Even the dense long/short limit orders aren’t there either. And after such a big move, the real liquidity in perpetual contracts is still not good, daily activity is concerning. Considering we need to bring liquidity back to the crypto-equities market: if it’s up 20% and not many people chase it, then it has to rise more before a larger number of people start chasing.
So today this long position may again be like the other day—taking a large chunk of profit. $ETH