Ethereum did not break the key bull-bear division line of 4335 yesterday, which is in line with our expectations.

I have been bullish since yesterday, and it has now broken through the downtrend channel, establishing a new uptrend channel.

During the day, we will pay attention to whether the channel will be broken; if it is broken, there will be medium to long-term shorts, looking down at 4335, and around 4210 and 4100. The deepest point remains at 3906.

If the channel continues to operate during the day, the rise will be relatively high, currently suppressed by 4630, with a breakthrough target of 4668. Above that are 4720 and 4795, where short positions can be arranged.

The probability of directly breaking through 4930 is low, but it has already been sufficiently washed out and accumulated. If it stabilizes at 4900, it won't drop easily for a while. It may fluctuate above 5000.

In the past two days, neither bulls nor bears should be trapped, and avoid using Martingale! Close each position as it reaches a target. For short positions, try to reduce your holdings as much as possible. Push for breakeven. I believe there will be a small pullback during the day. After that, it can expand. Focus on the area around 4795!!!