$ETH Hey guys, ETH started to pull back after hitting 2149. Just because there are huge whales bottoming out at 2049 on the daily chart, don’t just blindly stack up big positions! Right now, the long-to-short ratio has spiked to a scary high of 3.4, and the funding rate is still positive! This means the vehicle is packed with retail traders chasing highs, making it too heavy. The big players love this kind of setup, and at any moment, there could be a brutal 'liquidation spike' that cleans out the longs.

Currently, the short-term ceiling is between 2140 and 2150, while the floor is at 2050 to 2060.

Cautious bulls should wait for the 2050 whale line to stabilize before entering, with a stop-loss at 2000, eyeing 2150. Aggressive traders can try a light short if they see resistance at 2140, with a stop-loss at 2160 and a take-profit at 2080.

Liquidity may be low over the weekend, so watch out for big players potentially smashing through support levels!

This is just my personal opinion, for reference only, and not investment advice. Feel free to share your thoughts in the comments