Since August 25, $ETH has been moving in a consolidation phase. Don’t be fooled by its ups and downs—it’s essentially just consolidating. From my perspective, the $ETH trend isn’t over yet. This also indirectly shows that a lot of people got trapped at $ETH’s 2021 high. Between August 14–20, it went through a week-long descending channel to shake out weak hands, then used some positive news to pull a green candle and test (while also setting a new high). Selling pressure remains heavy, so it formed another consolidation triangle to continue shaking out. Since August 13, $ETH has seen significant net outflows (not referring to ETFs), but over the past three days, the net outflows have gradually decreased, and it’s now at the end of the consolidation triangle. Two days ago, there was a fake breakout, and last night, a fake breakdown. Currently, it’s still oscillating within the triangle range. From my perspective, this doesn’t look like the big players are exiting. This is a very clear continuation pattern. Unless it completely breaks down from this triangle and drops below the 20-day low to create a lower low, only then would I consider this trend to have no short-term potential. For now, my view is to wait for the triangle to finish consolidating. The next target for $ETH is between 5300–5700. Within this range, I’ll take profits in batches. (I’ll explain how I arrived at the 5300–5700 range in detail in the small group.) That’s it for now—shared by Old Fish. For reference only.