$ETH is printing a textbook double bottom at the macro $2,280 support floor while retail writes off the network amidst Bitcoin hitting $71,000. Late bears aggressively pressing breakdown shorts into major multi-month demand are offering prime liquidity for a mean reversion squeeze.
The wick sweep down to $2,280 cleared out over-leveraged longs, and aggressive spot bids stepped in immediately to defend the floor.
Execution plan:
- Bid Zone: $2,315 to $2,345
- Take Profit: $2,490 (TP1) / $2,650 (TP2)
- Hard Invalidation: 4H close below $2,260 (exit immediately, zero hoping)
The wick sweep down to $2,280 cleared out over-leveraged longs, and aggressive spot bids stepped in immediately to defend the floor.
Execution plan:
- Bid Zone: $2,315 to $2,345
- Take Profit: $2,490 (TP1) / $2,650 (TP2)
- Hard Invalidation: 4H close below $2,260 (exit immediately, zero hoping)
