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Looking at Ethereum this wave, I tend to be bullish. The whales won't sit idly by and let it keep dropping.
From the trend line perspective, there hasn't been a clear bearish pattern yet. The key is to watch the time window from tonight to 10:30 AM tomorrow—whether it can break above the 3420-3450 range. In my judgment, the probability of a breakout is quite high.
If a bearish trend does form, the possible pullback could be between 30-80 points, but it shouldn't be too large. Traders who want to participate must set proper stop-losses—that's the bottom line.
My advice is: set your stop-loss for the short position properly, then wait for confirmation of a breakout from this range. If you're bullish, don't be scared off by the oscillations. If you find it valuable, you can verify it yourself.