ETH · 1H · DOWNTREND

Both targets from my Wednesday read — 2,005 and 1,954 — have been reached and confirmed by live prices. That's a completed move, and I'm treating it as such: the prior short setup is done. Price has since pushed further, tagging a low around 1,895 before bouncing to current 1,935. The daily structure remains a clean sequence of lower highs and lower lows — that hasn't changed. What has changed is the Fear & Greed Index sitting at 20 (Extreme Fear), funding running negative at -0.0007% per 8h with shorts paying longs, and dense liquidation clusters stacked just above: 1,902, 2,001, and 2,117. That combination — a capitulation low, shorts piling in, and a cluster of fuel sitting above — is the setup for a short squeeze, not a clean continuation short. The 3% bounce the news references, tied to AI-equity strength, adds a tactical bid. I'm not shorting into this. The honest trade here is a counter-trend long contingent on a pullback reclaim of the 1,901–1,902 zone, targeting the dense liquidation cluster at 2,001 — which is where I'd expect the squeeze to exhaust, not blow through. The daily trend is down so this is a counter-trend trade and I'm sizing it accordingly, but the structure — extreme fear, shorts overpaying, dense upside fuel — earns a setup.