Ethereum recently broke out with increased volume to the 3383 level, which coincides exactly with the top resistance of the box analyzed last week. When placing a short position at this level, consider setting a stop-loss to protect profits.

From an operational perspective, shorting on the left side is indeed challenging. Entering a short at around 3330 carries the risk of a slight loss. If you place a short order at 3360, some traders' average entry price is around 3345, so the stop-loss can be set at 3384. Without a stop-loss, be prepared psychologically to hold the position.

The reduction of positions can be approached in two steps—gradually reducing from the 3120 to 3080 range, with the ultimate target at 2480, which is a theoretical calculation based on the two downward box levels. If the position is heavy, arbitrage hedging can be done back and forth. Once the price breaks through 3384, this structure needs to be reassessed. The next shorting opportunity is expected around 3570, waiting for a pullback.

Thinking in reverse, from 2480, go long and track the weekly rebound to around 3850, then consider deploying long-term short positions. If the rebound directly surges to 3870, initiating a long-term short strategy from this high point is also feasible.

In the short term, avoid shorting Bitcoin. If you must operate a short, consider placing long-term shorts at levels like 98200 or 99500. Interestingly, the structural movements of Bitcoin and Ethereum are not synchronized—Ethereum peaked on August 24 last year, while Bitcoin only peaked on October 6. The market is full of uncertainties; no one can guarantee perfect accuracy forever. The key is to always set a stop-loss to ensure stable profits.