Recently, after rebounding to 2180, a long upper shadow appeared, followed by a continuous decline, forming a double top pattern, which is a typical sign of a rebound topping out, indicating strong selling pressure above.

The rebound lacks volume, while the decline is accompanied by volume, showing a clear divergence between volume and price. The bullish momentum is insufficient, and the bearish selling pressure continues to be released, which are typical characteristics of a weak rebound.

For short positions: During the rebound to the 2170-2200 range, consider gradually opening short positions with a stop loss above 2230, targeting 2020. If it breaks below 2000, hold for a potential move to 1900. If it breaks above 2200, watch for a short opportunity around 2300.

For long positions: Only consider light long positions during a pullback to the 2000-2020 range, and only if clear signs of stabilization appear (such as increased volume on a bullish candle or bottom divergence). Set a stop loss below 1980, with targets between 2100-2150. Enter and exit quickly.

This Friday, the US March CPI data is the key variable. If inflation exceeds expectations, it will reinforce expectations of rate hikes, directly suppress risk assets, and trigger a new round of declines.

The US-Iran negotiations reach the final deadline tomorrow. Be cautious of the possibility that if negotiations fail, the conflict could escalate further. $ETH