The Eth1h level has formed an ascending wedge, and there has been a short-term pullback. It is still in a downward trend, which is completely different from the movement of Bitcoin. There is a rebound demand at the smaller levels, and recently ETH has been very strong, so I won't short it. If it pulls back near 3520, I will consider entering long.

However, based on the current pattern, it may move in a range to digest selling pressure, and the probability of a direct drop is relatively low. Let's wait for some oscillation and see if there are any trading opportunities. For now, I will stay on the sidelines!