Bollinger Bands are extremely narrow, and the battle between bulls and bears is imminent. This eerie calm in the market reminds me of the nights before last year's explosive rallies.

As a trader who lives by chart patterns, I keenly sense that familiar gunpowder smell in the air. Looking at ETH's 1-hour candlestick chart, the increasingly narrow triangle convergence pattern is exactly the precursor to an explosion we’ve been waiting for.

Early this morning, while most retail traders were still debating whether to regain or lose the $3000 level, I found a clear bullish accumulation signal within the narrow range of $2940 to $2960. Market liquidity is rapidly drying up, and the width of the Bollinger Bands has narrowed to about 110 points, which is the so-called "calm before the storm."

**What the technicals say**

The current chart is a textbook example. ETH is operating at the end of a symmetrical triangle, with each wave decreasing in amplitude, reflecting a short-term balance of bullish and bearish forces.

The upper and lower bands of the Bollinger Bands (20, 2) have contracted to about 110 points (upper band 3050.56, lower band 2938.75). Such extreme contraction often signals an imminent big move.

Interestingly, although it looks very calm on the surface, subtle signs are already emerging. In the recent hours, the bodies of the candlesticks are noticeably shrinking, and some bullish candles are showing signs of volume increase.

While the MACD is still hovering near the zero line, the green energy bars have already started to shrink consecutively, indicating that the bearish momentum is waning. For those who understand the market, these subtle changes are signals that the bulls are about to make a move.