#ETH $ETH The short position in ETH is still held, but what you should really look at today isn’t profit.
It’s the gap between it and BTC.
Today BTC is down two points, while ETH is down nearly four points—exactly double. If you push back seven days, it’s the same: BTC down about two and a half points, ETH down more than three.
This spread is the most deadly signal.
When the market moves downward, money isn’t disappearing—it’s shrinking back. Shrinking back to where? Back to BTC. On the altcoin side, it gets bled first, falling faster than anyone.
So over these past few days, shorting ETH is safer than shorting BTC, not because ETH’s fundamentals are better, but because it sits one tier lower in the food chain.
If you understand that, you’ll know why I haven’t closed this position yet.
Now at 2362, it’s exactly pressing on the lower end of that consolidation support line.
According to the plan, at this level we should scale out part of it in batches.
Why not wait until the level breaks to exit? Because near the support line is where longs and shorts fight hardest. A single rebound pulling it up by over a hundred dollars is common. A 5x profit on paper doesn’t count as real money until you take it.
The SNDK position earlier is the example: not taking profit on time. The direction was right, and in the end it still turned into a loss. The same mistake can’t be made twice.
Scale out part now; for the rest, move the stop-loss up to the breakeven price. After that, no matter how it moves, you won’t lose.
Going lower is still my main direction. After a pullback, continue probing for support. The overall trend remains downward—this judgment hasn’t changed.
When would I admit I’m wrong: if ETH reclaims above 2460, and moreover its downside starts being smaller than BTC’s. When these two happen together, it means the capital has turned around—then I’ll close immediately.
Before that, the short position continues to be held.
#ETH $ETH