Seeing someone ask "Should I open a short when ETH forms a double top and keeps falling," this is clearly a typical FOMO mentality—shorting on dips, chasing on rises. In fact, the "double top" pattern often is just a psychological test by the main force before truly breaking support; the current market logic is much more complex than just candlestick patterns.

**Decreasing volume indicates the main force is still present**

Don't just focus on the price dropping. During the slide from 3400, the 1-hour chart's trading volume has been continuously shrinking, with red bars getting shorter and shorter. A real crash would be a "large bearish candle with high volume" directly smashing down, not this slow decline with volume-price divergence. The volume contraction during the pullback precisely indicates: the main force has no intention of dumping, and this decline is just a consolidation phase aimed at clearing out the retail traders following the trend.

**The neckline isn't broken yet, so no short should be initiated**

The textbook condition for shorting a double top (M-head) pattern is a break below the neckline. The rising neckline this time is around 3280, while the current price hovers at 3330, with strong support below. Opening a short at 3330 is essentially doing so halfway up the mountain—only about 40 points down to hit support, and during rebounds, it could be pulled back up at any time. The risk-reward ratio of this trade is extremely unfavorable.

**Bearish decline is a refined shakeout**

The continuous small bearish declines on the 15-minute chart are the most frustrating. Unlike rapid drops that trigger panic selling, this is a gradual slicing, causing retail traders to surrender actively in slow despair. When the bulls can't hold their positions anymore, the main force can easily launch a rally with light positions. This is the art of shakeout.

**Practical advice**

The current prudent approach is to buy on dips. The key support zone is around 3290-3305, which is the previous key rally platform and the limit of the correction defense, providing a solid safety cushion. Set stop-loss at 3260; if it breaks down with volume, exit and take the loss. The initial upside target is 3380; after stabilizing there, aim for 3450.

The market has never been about reaction speed but patience. This volume-shrinking bearish decline could very well be the last quiet moment before a surge. True veterans will either hold firm at the bottom or quietly accumulate, rather than chasing shorts at the midpoint.