There must be a lot of people who directly looked for a breakout at the peak of Ethereum on October 21st and are now stuck at high positions. The ones shouting 'boldly buy the dip' now are the same batch of people who were calling for a dip buy at the end of May. Those who have a habit of bottom-fishing won't just do it once; they must have been continuously bottom-fishing over the past few months.

If we are talking about cycles, holding on is fine; it will eventually rise again. However, it has already been three years since buying at the end of 2021. Has it risen back? Time is also a cost!!!

Ethereum will not be bullish unless its structure breaks out, and buying at effective breakout points is definitely more reasonable than bottom-fishing.

Currently, there is a possibility of continued adjustment, but the probability of a reversal is very low, so I tend to lean towards a downward continuation.

If we are to say that we are still in a bull market, it is merely Bitcoin's bull market, unrelated to Ethereum. It’s certainly exciting to call for a rise, but the fact is that it has been falling for five months from early June until now.