Ethereum's recent market movement is interesting. We closed our short position at 3320 yesterday noon, and now the market data and charts have changed significantly. The strategy has been adjusted to first look for a bullish move towards around 3475 before making any decisions.

The probability of an accelerated upward move tonight is quite high. If we can see a strong bullish candle, that would be ideal—this kind of movement is most tempting for the bulls. Currently, there is also a substantial amount of bullish data accumulated. Once the price stabilizes near the previous high and breaks through, it could actually trigger a rapid decline in the short term—this is a typical sign of a bull trap.

Therefore, the key now is whether this wave can truly break through the previous high. If it does, a sharp downward correction is highly likely to follow.