The current four-hour decline of the pancake icon has already formed the first hour-long decline and the second hour-long Rebound, but at least the third hour-long decline is still needed to end, so the overall four-hour decline is not over yet. However, after the next decline comes out, we still need to continue to be bullish and at least continue to try to catch the bottom, because the next four-hour Rebound may go to the 66500~70000 range again.

On the hourly timeframe, the second Rebound on the hourly timeframe is currently running, and this Rebound is not very significant in terms of price. It would be better if the price could push up to the range of 62500 to 63000 again. After this hourly Rebound is completed, there should be a third hourly decline, and then follow the support near 58000 to 59000.

On the 15-minute chart, the current Rebound of the third 15-minute chart that follows can push up near 63000. If the subsequent pullback falls below 61600, it is expected to continue with a one-hour downtrend.

On the hourly level of ETH, it is currently running the second hourly Rebound, with a follow range of 2450-2500 above. There will be another hourly downtrend afterwards, with a target of 2250 to follow.