$ETH retail sentiment has completely flatlined across every crypto feed, with traders convinced that L2 cannibalization and endless foundation dumps have permanently killed spot demand.
Shorting multi-month range lows because the timeline feels depressed is a classic late-cycle retail trap. The 4H tape tells a very different story. Price continues to carve out higher swing lows above the $2,620 to $2,660 macro base, and spot buyers are absorbing every push into the $2,680 pivot shelf.
I am stepping into the contrarian side here. Taking bids between $2,675 and $2,690. Looking for an aggressive short squeeze back up to $2,780 for TP1 and $2,840 for TP2. Hard invalidation is non-negotiable: if a 4H candle closes below $2,618, the structure fails and I am out immediately.
Shorting multi-month range lows because the timeline feels depressed is a classic late-cycle retail trap. The 4H tape tells a very different story. Price continues to carve out higher swing lows above the $2,620 to $2,660 macro base, and spot buyers are absorbing every push into the $2,680 pivot shelf.
I am stepping into the contrarian side here. Taking bids between $2,675 and $2,690. Looking for an aggressive short squeeze back up to $2,780 for TP1 and $2,840 for TP2. Hard invalidation is non-negotiable: if a 4H candle closes below $2,618, the structure fails and I am out immediately.