You may not be able to predict the exact bottom when trading, but surely everyone knows what prices to go long or short at, right? At 2,200, the people who choose to short instead of go long are the same ones who went long on ETH at 4,000, aren’t they? Even if the price falls further, there isn’t much room left to the downside. By contrast, there’s plenty of room to go long on the upside. It’s just like when I told everyone at the beginning of the month to take a long-term short on BTC at 84,000. Zoom out to a timeframe of a few weeks or a month or two, and you’ll see that 2,250 is also a low. There’s no need to chase the so-called exact bottom. Most retail traders see the price drop to 2,200 and assume it’ll fall to 1,500 or 1,200. They’re the same people who thought BTC would keep rising to 97,000 or even 100,000 when it hit 87,000. I didn’t write this post to tell you to chase a long position right now. I’m just saying that when the price reaches your target, go for it. If your target is below 2,000, then wait for it to drop below 2,000 before buying the dip. If it doesn’t reach your target and you miss out, don’t complain.
