How will the pullback script of ETH play out?

ETH experienced a strong rebound after the spike in the early morning, with the target aimed directly at 3900.

According to the on-chain liquidation chart, there is a liquidation of 20,000 ETH in short positions at the 4000 level, and the current market conditions almost dictate that these price ranges must be reached.

The amount of ETH currently queued for exit from Ethereum node staking has decreased from 700,000 to 600,000, while the amount of ETH queued for entry is currently 200,000. This means that the potential selling pressure over the next 10 days is decreasing, which is good for the market. However, caution is still needed regarding pullback risks.

Because the resistance level of 4000-4100 is not easy to break through, many bears will focus on this point to short, including myself, because historically the win rate for shorting at ETH resistance levels is very high. After reaching the previous high, it may pull back to around 3850.

Strategy: Continue to hold ETH long positions, need to reduce positions in batches and reverse between 4000-4100.