ETH's recent price action is quite interesting. I think 3139 is a spot where you can try a small long position.

Looking at the market, there's a heavy buildup of shorts, so there's a high probability of a squeeze coming. I suggest using 20x leverage with only 10% of your position, and set your stop loss at 3118, giving you a 21-point safety margin. A margin of error within 3 points is acceptable—don’t chase the price.

However, this is just a short-term play. Once it rebounds to a higher level, I’ll still be bearish. Right now, it's about catching a reversal swing, so absolutely avoid going all-in. Just test the key price level with a small position.

Trade at your own risk; this does not constitute investment advice.