ETH is currently in a major downtrend on the 4H timeframe, while smaller timeframes are showing a rebound. This is a low-volume rebound after a high-volume crash. Open interest has fallen off a cliff: longs are getting liquidated, and shorts are taking profits and exiting. The nature of the funds is already very clear—this is a dead cat bounce. You need to wait for the rebound to play out for a bit before you dare to open new shorts. The daily and 4H are already oversold, but the trend hasn’t changed. Just let the market digest the sentiment. For the next layout, we still won’t go long—be patient and keep waiting to short. For this new short, the target is 1700.