The price has returned to the position at the beginning of this year, exactly half a year later, and without a strong catalyst to ignite long positions (the Fed's interest rate cuts have been speculated since the beginning of the year), long positions always seem to have a state of revival, giving a strong impression. This kind of trend deviates from normal thinking and is unhealthy!

The current technical outlook has too much lag; in the short term, there is no reason to enter short positions, and I can't convince myself to do so. However, this is merely a short-term perspective. In the medium to long term, the trend should still be treated as bearish, regardless of the position size. The trend remains bearish, and the effects won't be visible in the short term. A waterfall drop to ten thousand points is expected around the end of the month!

Ethereum also struggles to reach the early June high of 2870, and previously I didn't expect it to go above 3000, and it's the same now!

In a stagnation position, there is no subjective speculation; whether it’s a pump or a dump relies entirely on market sentiment. This means that shorts can be entered above 111500, and short-term trends can also be entered. The trend target looks at 100K!

The short-term long positions for Ethereum have not yet ended, stronger than Bitcoin's market, just waiting for a reversal. Enter short above 2820, with a trend target of 2400!