8.1 Chenfeng Auntie Midday Thoughts

Although ETH has shown signs of a bottom in smaller timeframes, it is still deeply trapped in a rapid decline on the 4-hour chart, with no signs of a bottom in sight. The current rebound is weak and lacks strength, likely due to the rapid exhaustion of smaller timeframe indicators. While the daily chart's pullback to the midline theoretically releases enough downward momentum, the bearish forces may not have completely dissipated. It is advisable to maintain a bearish outlook and observe cautiously.

Looking to short around the 3650-3630 range, targeting around 3550 #姨太