$ETH 1️⃣ 2500 level is the "paper graveyard", with $230 million in short positions lying in wait, breaking the replica of the 3.12 halving disaster;

2️⃣ 2587 is the air force graveyard, with $150 million in short positions watching for a false breakout to explode shorts;

3️⃣ Trading volume shrank by 47%, big players are all waiting for the US CPI bomb, with core above 3.4% ETH is likely to face a collapse!

Trading advice:

For spot trading, cut half the position at 2561, keep some ammunition to buy the dip at 2400;

For futures traders, chase long on a breakout at 2587 with a $30 stop loss, if it breaks below 2505 then short, target 2450 to break even!

#Chaudhary ijaz