eth is at a pretty crucial spot right now and the next move could decide if we’re in a real bull or just another fakeout…

here’s what i’m seeing… price has been stuck in a downward channel and keeps getting slapped back around $3.6k to $3.7k… support is in the low $3.3k area… the 200 day moving average sits closer to mid $3.5k, not right at $3.3k… which is why we keep wobbling between these bands

lose ~$3.3k with conviction and we probably tag that $3.0k to $3.1k pocket where buyers showed up before… reclaim ~$3.6k and things can get interesting fast… that keeps the bullish setup alive and opens a path toward $3.9k to $4k

liquidations map is spicy… big stack of shorts hanging above ~$3.8k to $4.0k… a pop into that zone can squeeze quick… on the flip side there’s a lot of longs camped below ~$3.2k to $3.0k that get cleaned up if support breaks

so yeah… compressed between two magnets… near term momentum looks tired… need stabilization first before anyone gets victory laps

what’s everyone’s take… bounce from here or do we stab lower first and then rip?

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