ETH’s key support around 1950 has been followed by continuous pullbacks. We still have room with short positions at 1940 and 1950, but we need to pay special attention: the support of the 4-hour rising channel line at 1880～1900 has been slow to break for a long time. In terms of the trend, there has been no reversal—this is still a bearish pullback. It still has the momentum to accelerate upward. After 4 days of consolidation, the breakout upside space will not be small. On the downside, several key points need to be defended—there is an opportunity to try.