How to play ETH at this level? Here are my thoughts.

If you missed the entry opportunities at 2620 and 2750, don’t rush to chase now. First, take a clear look at two things: Is this rebound from the support level just a technical correction, or is it truly a bottom signal?

**Let’s talk about the bullish side first.** Trump has recently released some positive signals, combined with rising expectations for a rate cut in December, and some verbal bullish news from the institutions—that all sounds good. But the problem is, these are still just "expectations," nothing has materialized yet. There is indeed bullish divergence on the 4-hour chart, and MACD has crossed above the zero line, but what about the monthly and weekly charts? There are no real signs of a bottom there.

**Now for the concerns.** BlackRock’s ETF holdings are still seeing continuous outflows. Although the volume isn’t huge each time, the direction is clear. History shows: prices usually drop before Christmas, and after a rate cut actually lands they tend to fall first, with a reversal taking one or two months. Looking at the weekly trend, I don’t think this U-shaped rebound is an ideal second buy point.

**So what’s the strategy?**

The daily chart has broken out, and next there are likely two scenarios:
1. Choppy movement in the 2700-3100 range
2. A continued push toward resistance at 3230 or even 3420

My approach: Don’t chase at the current price. Watch the 30-minute chart, and if it drops back you can try a short-term short. If it really pushes up, wait for 3230 or 3420 to look for a short entry. This way, you can avoid getting trapped by chasing highs. Even if it really takes off, you can still wait to enter on the third buy.

If it consolidates and pulls back within the range, you can look for a short-term long around 2970—I’ll give specific strategies based on the market at that time. Don’t act blindly; waiting for opportunities is better than moving impulsively.