ETH rose as expected to liquidate shorts, peaking at 2548 before retreating. Current market liquidity is scarce, and fluctuations can be determined through the liquidation chart.

After one side is liquidated, the market often reverses. The early morning was an example: after liquidating shorts near 2535, the price surged to 2550, peaking at 2548, and then pulled back to the current 2493. This kind of market is suitable for short-term swing trading.

Since the 6th, the market's liquidation data has decreased, and liquidity is almost exhausted. $ETH is currently in a consolidation range, but I remain bearish, expecting it to drop to at least 2400. The short-term support level around 2478 will oscillate repeatedly, ultimately possibly dropping to 2400 in one go.