Since the clear bullish signal on 11.22, ETH has seen a maximum increase of over 19%. It has now started to pull back—can it still go up next? As shown in Figure 1, there are two possible scenarios for ETH's rise from 2716, illustrated in red and blue. The red scenario is of a smaller degree, representing a rebound from a previous decline, while the blue scenario is of a larger, daily level degree, targeting the entire decline starting from 4956. I have repeatedly emphasized the importance of the key transition zone at 3120-3150 as shown in the chart. For ETH's current rally to expand to a daily level, it is crucial for the daily close to be above this range; otherwise, the first leg of the rally may be over, and there is a risk that the subsequent correction could turn into a new downtrend. (However, even if it follows the red scenario, a new downtrend would mean that after finding a bottom, a daily-level rebound is likely, so it’s not entirely a bad thing.) Pay attention to the upcoming Gann time on 12.8; at that time, a turning point may occur that will help us determine the current trend level and future price action. Further out, important time points are in mid-December and early January—when the market structure becomes clearer, I will announce the precise timing. Bitcoin digital currency #币圈#