#ETH I'm completely speechless. On the daily and the four-hour charts, all three directional charts are pressing downward. The price is hanging below the mid-term moving averages, gasping for breath. Open interest is shrinking in a surrender-like way, and the bones of the trapped long positions are being pulled out one by one. What’s even more painful is that the funding rate is still positive. People who are stuck are getting cut while also paying extra interest just to stubbornly hold on. As for spot—there’s not even a single net inflow from the big orders over the past three hours. Even the order book: the buy wall is thinner than the sell side by a full notch. If you ask me, this downtrend hasn’t even finished yet. Reaching out to catch the bottom right now is basically stuffing yourself into the mouth of the shorts.