In this wave of market, Ethereum has entered the callback mode since it hit the pressure level near 3500 on the 17th.

If there is no unexpected situation, the Ethereum ETF is expected to be officially listed next week. Perhaps you will ask, has this expectation been overdrawn in advance?

The answer is that there is definitely an overdraft phenomenon, but the impact is not very significant. The key is that there will be two targets from now on - Bitcoin and Ethereum, and there will be continuous capital inflows from traditional finance (US stocks).

One more or one less fluctuation is actually irrelevant. Both long and short positions can be operated today, but it should be noted that this is not a critical position and is not suitable for long-term holding.

The objects of observation in the morning are: wif, sats, sol, etc.

It is currently in the callback stage, and the small cycle touches the support level, resulting in a rebound. But it should be noted that if you want to go long at a low level during the rebound, it is still in the downward trend of the callback, just a rebound.

Pay attention to the horizontal pressure level of 3430 and the slope pressure level of 3460.