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đš ETH longs are getting crowded â and thatâs dangerous.
ETH just broke from $2,700 to around $2,572, while the contract long/short ratio sits at 2.11.
Too many traders are betting on a rebound. Thatâs exactly when leverage gets punished.
Iâm still holding my short from $2,689, currently up around 43.7%.
My plan: watch $2,620â$2,650 for another rejection, stop above $2,700, first target $2,450.
With the Fed minutes coming tonight, Iâm not trying to catch a falling knife.
#DailyOrbit
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