Trader Eugene: ETH has been long again, it is not advisable to turn bearish too quickly

BlockBeats news: On August 2nd, trader Eugene Ng Ah Sio posted on his personal channel that he had once again long ETH. The bullish sentiment in August was prematurely pursued by the market, but BTC at $113000 and ETH at $3500 are still reasonable positions to build, with stop loss set below $112000 and $3400. Although the hype surrounding Data Availability Technology (DAT) may gradually fade, there is still substantial structural buying in the current market, so it is not advisable to turn bearish too quickly. Many people jump back and forth between 'bull market return' and 'complete demise', but fail to realize that the market is not a binary trend of either or.