$ETH 2480-2550 range saw a strong bullish breakout over 2649 around 3 AM. Everyone should not be scared by such a surge and blindly chase long positions. ETH has now become a battleground for large holders and institutions balancing long and short positions.

It’s a watershed market; I think both bulls and bears can coexist. Just as I mentioned yesterday, I would decide whether to buy long positions after 4 PM, but I had to go out at that time and didn't open any positions. When I got home in the evening, I saw the market had already reached 2530. I wanted to go long, but then I thought it wasn't appropriate to chase long positions in the middle of the night. It could either be a pleasant surprise or a shock. I decided to just sleep on it.

In the morning, I was quite surprised to see the market breaking through the 2550 price. The strength of the bullish rebound was unexpectedly high. Looking at the 12-hour chart, the bulls have a significant amount of chips. The higher the market rises, the more short positions there will be.