[Important Notice]

I just briefly reviewed the long-term trends of ETH and LTC. For specifics, please refer to the chart below. Personally, I believe that this position is very likely to be the bottom area of the long cycle. Although there is a chance of a pullback at the smaller levels, the daily chart could also experience a reversal spike at any moment.
This morning, ETH only tested the support level of 2380 and did not break below it. Moreover, the daily chart is also leaning bullish, with a chance to challenge 2700 or even higher in the short term. However, this is a larger time frame, and if one wants to see levels above 2700, the stop loss should be set at least at 2150, so as not to get swept out during the intermediate volatile market.
In addition, we still have spot LTC on hand, with a target level still looking towards above 138. This round of hourly shorts has only seen as low as around 74, with the lowest already probing down to 76. However, our weekly stop loss is at 69, meaning the risk outweighs the reward.
So here we slightly change our thinking: we still have a bullish outlook on ETH and LTC, while short positions should be focused on short-term trades, as holding them for too long can lead to being stopped out; for long positions, we can be a bit more strategic and ride the trend.
Reminder: The long-term charts are generally used to observe long-term trends or for spot trading. It is safer to cancel the current BTC short position! In the short term, we still expect a pullback, but we only do short trades. The holding time for hourly level conditions will be relatively long, and both the time invested and the holding cost will be quite high. Moreover, against the trend, the long-term charts may also trigger stop losses, which is not worthwhile.