$ETH has completely become a plaything in recent days. However, compared to BTC, more people are willing to buy ETH, and there has been consistent small-scale buying. The key point is that in recent days, the number of people shorting ETH has also started to increase (intraday), resulting in the price remaining high. The upward pressure is at 2660.

$ETH 2480-2550 range saw a strong bullish breakout over 2649 around 3 AM. Everyone should not be scared by such a surge and blindly chase long positions. ETH has now become a battleground for large holders and institutions balancing long and short positions.

It’s a watershed market; I think both bulls and bears can coexist. Just as I mentioned yesterday, I would decide whether to buy long positions after 4 PM, but I had to go out at that time and didn't open any positions. When I got home in the evening, I saw the market had already reached 2530. I wanted to go long, but then I thought it wasn't appropriate to chase long positions in the middle of the night. It could either be a pleasant surprise or a shock. I decided to just sleep on it.

In the morning, I was quite surprised to see the market breaking through the 2550 price. The strength of the bullish rebound was unexpectedly high. Looking at the 12-hour chart, the bulls have a significant amount of chips. The higher the market rises, the more short positions there will be.