Looking at this 1-hour chart, I can't sit still— the market is again shaking out traders, but the true reversal signals have already surfaced.

From a technical perspective, the signals are clear. The Bollinger Bands are opening downward, but the lower band is starting to flatten; around 3100, there are repeated spikes, which seem fierce, but the bearish momentum is actually waning. The MACD green bars are shrinking, and although the DIF is still below the DEA, its slope is clearly slowing down—this is a typical early sign of bullish divergence. The moving averages are now converging, and on the hourly level, a bullish divergence could occur at any time. Once it stabilizes above 3150, the short-term space will open up directly.

On-chain data is even more interesting. On the surface, activity seems quite dull, but a few whale addresses I monitor have been quietly increasing their holdings recently. The ETH reserves on exchanges have been decreasing for three consecutive days. What does this indicate? Smart money is accumulating during the consolidation, while retail investors are still panicking and selling—this is a classic sign of a reversal coming.

Maintaining a calm outlook on news is actually a good thing. No sudden negative news, and the technicals have enough time to recover. Before next month’s key upgrade, institutions won’t miss the opportunity to buy the dip.

To be straightforward, every $10 drop below 3100 is an easy buy signal. This is the short-term bottom zone. If your position management is good, you can consider gradually accumulating now. The market always reverses at the most desperate moments—don’t wait until it rallies to chase the high.

Technically, short-term support is at 3080-3100, with resistance at 3150-3180. If it breaks through 3180, the short sellers’ stop-loss orders will be triggered, possibly accelerating the rally toward 3250.

Ultimately, in a bull market, there are many sharp drops; in a bear market, there are many spikes. This current market clearly looks like a shakeout within a bull trend. Hold your positions steady and don’t get shaken out.