$ETH just exploded upward and wiped out around 1.76K in short positions at 3295.64. I’m seeing that burst as a strong rejection of downside pressure— shorts got caught leaning the wrong way, and momentum flipped fast.

My Trade Setup (Educational Only)

Entry Zone: 3268 – 3305

Target Points:

• First target: 3370

• Second target: 3435

Stop Loss: Below 3215

Why this setup works:

I’m using the liquidation spike as a signal of trapped shorts. When shorts are forced out, price often continues upward as momentum builds from both buy pressure and reduced sell pressure. The entry zone sits just above the liquidation level, where retests commonly form before another leg up. The stop loss stays below the last liquidity sweep to invalidate the idea cleanly.

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