One Reason to Long ETH (short term)
With ETHUSDSHORTS at an all-time, this looks to be a good counter trade. The last 2 times the shorts peaked, ETH had pumps of around 20-25% in subsequent days. If that trend were to follow, look for ETH to pump to 260-270 levels. Buy point is ~215, sell point ~260. Pretty tight stop loss (5%) of 195 as ETH looks bearish overall still.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.