The
$ETH setup is asymmetric right now.
• $2,000 is clearly a liquidity magnet. With $2B+ in shorts stacked there, a squeeze is structurally possible — but only if spot demand absorbs supply first. Without real bid strength, that level becomes resistance, not fuel.
• Whale distribution vs accumulation wallets adding 2.5M ETH tells me this isn’t consensus — it’s positioning divergence. Near $1,800, I lean cautiously constructive, but only if structure holds.
• $1,600 is the real invalidation. Lose that and liquidation cascades accelerate.
TP: Into liquidity above $2,000–$2,200
SL: Below $1,5