Why do we say that it is impossible to go long on Ethereum now?

Because we believe its value is only $500 per coin, and it needs to touch the range of $1500-1800 at least. Since Ethereum has abandoned its initial mining mechanism, discarding important elements like chip manufacturers, mining machine dealers, and miners, it has become a coin with no application value.

The reasons are as follows:

First, let's talk about the first point: the comprehensive long position data for Ethereum has consistently remained above 80%, with large-scale short positions at 10%, and large-scale long positions at 90%. Once it breaks 2750, there will basically be no short positions left; subsequent short positions will be those that are lured into the market.

The second point: the well-known bullish news, which is likely a precursor to a major drop.

The third point: Our market is about human nature. As I mentioned during the live broadcast, if we purely refer to technical indicators, we could have been long around 2300, but why did we maintain a short position near the monthly average of around 2700 at the beginning of the month and not exit? Because Bitcoin has risen too much, we believe it is luring people into long positions. It is almost impossible for Ethereum to catch up. However, from the current perspective, the gap between Ethereum's high and Bitcoin's is getting larger. When Bitcoin was at 73000, where was Ethereum? Now Bitcoin is at 77000, where is Ethereum? The point difference is nearly the previous high. If calculated based on previous practices, Ethereum should now be around 4500, but it is close to a point difference of 1500.

The fourth point: Do not hold positions. If the defense level of the current short position at 3130 breaks, then exit immediately, just like when it broke 2750, just leave.