Why do we think ETH is in a B-wave rebound?
1: Time: From the peak on August 24 to the low on November 21, a total of 89 days (3 months), this 89 is a relatively important turning point in Fibonacci, and the 3-month period also aligns with the adjustment period of wave A.
2: Solar Terms: The turning point on November 21 corresponds to the Minor Snow solar term. Combined with the time perspective above, important time nodes also occur near solar terms, making it easier for market turning points to appear.
3: Space: From 4957 to 2620, the adjustment has accounted for 57.29% of the entire 3-year rise, which has exceeded 50% and is close to 60%. The target for the decline of wave A is within this range.
Summary: Key time nodes + reasonable space + solar terms, these three important elements overlap in judgment, and since November 21, what is happening is indeed the B-wave rebound. This rebound is an adjustment wave relative to the entire bear market, while the downward waves are the driving waves.
