#BybitSecurityBreach

ITS time to plan a short trade on eth ?

The Bybit hack could create temporary panic, but whether it leads to a sustained ETH drop depends on how severe the situation is and how the market reacts. Here’s what to consider before shorting:

Reasons to Short ETH Now

Negative Sentiment – If the hack causes fear, ETH could dip.

Liquidity Issues – If users withdraw funds from Bybit, it may trigger market volatility.

Weak Price Action – If ETH is already struggling at resistance, this news could accelerate a breakdown.

Reasons to Wait Before Shorting

Quick Recovery Possible – Crypto hacks often cause a short-lived dip followed by a rebound.

Market Strength – If BTC remains strong, ETH might not dump hard.

Derivatives Data – Check open interest and funding rates. If too many people short at once, we could see a squeeze.

Trade Setup (If Shorting ETH)

Entry: Near resistance ($3,200–$3,300) if ETH fails to break higher.

Stop-Loss: Above $3,350 (or adjust based on volatility).

Targets: $3,000–$2,900, depending on momentum.

Would you like me to check fresh liquidation levels and open interest data before finalizing a move?