I still tend to remain bearish on Ethereum's current trend. From a technical perspective, the fourth wave pullback at the weekly level should target the 1.618 Fibonacci level—around 2500. Why do I make this judgment?

According to the logic of wave theory, the trend-driving phase needs to form a guiding wedge, and the typical structure is a 5-3-5-3-5 pattern. However, for the trend to be fully completed, a terminal wedge must appear, which is a 3-3-3-3-3 structure composed of five three-waves.

Where is the problem? Currently, there are no signs of a guiding wedge on the chart. What does this indicate? The descending channel has not yet completed, and the adjustment must continue. So, don't rush to bottom fish in the short term; be patient and wait for the key level of 2500 before proceeding.