$ETH down to $2,170 before Friday. Above $2,320 I'm wrong.
The Fear & Greed index fell from 51 five days ago to 26 today. That reads like capitulation. The positioning does not. ETH perp accounts sit at 2.63 long/short, 72.49% of them long, with funding still positive.
Sentiment capitulated. Leverage did not. When both unwind, the longs get flushed.
Which comes first, $2,170 or $2,320?
The Fear & Greed index fell from 51 five days ago to 26 today. That reads like capitulation. The positioning does not. ETH perp accounts sit at 2.63 long/short, 72.49% of them long, with funding still positive.
Sentiment capitulated. Leverage did not. When both unwind, the longs get flushed.
Which comes first, $2,170 or $2,320?