Ethereum today is experiencing a contraction triangle after a sharp drop. The upper resistance level is at 1600, and the lower support level is around 1550. Just now, there was a volume increase and a drop in the last 15 minutes, influenced by the opening of the US stock market. I never speculate on the specific future direction; it is not very meaningful. It's better to wait for the pattern to break out and then act, ensuring to set stop-losses. Don't be afraid of being stopped out by the market; just wait for the next opportunity.

If this 15-minute candle closes and subsequently drops below 1560, we can consider going short, with the stop-loss set at 1600. Personally, I am more inclined to continue testing the downside. For those who have long positions, the stop-loss can be set at 1550. If it breaks through 1600, the target levels are 1650 and 1700, which can be a reference for long positions.