Gulf Stream Notes: This ETH surge, setting aside the news, just looking at the candlestick chart, does show some potential for a reversal—note, just 'potential'. At least this rebound has decent momentum, not the fake kind. As I've often said, 'a bottom doesn't rebound; a rebound isn't a bottom.' This time, after consolidating at the bottom for a week, it finally produced this small move, so it's worth watching.

Next, focus on the 1-hour chart. The price quickly broke above the channel's upper boundary. In terms of price action experience, such rapid surges usually don't last long—at most three or four candlesticks. Why does it surge like this? Most likely, it's shorts covering en masse (buying to close short positions), combined with longs chasing breakouts, pushing the price up together. Don't get greedy at this point; take partial profits with each bullish candlestick, because a spike and pullback could happen at any time.

Since the trend shows signs of reversal, if you want to take short-term short positions, you can enter at high market prices. But remember, counter-trend trades are quick entries and quick exits—don't linger. The main direction is still to go long on dips, with short-term shorts as a supplement. Make sure you understand your entry logic before placing a trade, considering the current context and trend. Don't follow blindly. Stay steady.