How to observe the market's breathing frequency? It's actually quite simple. Treat yourself as a third party looking at the market, without your own biases, greed, or fear. Just think, if you were someone who hasn't participated in the market, and the price has reached its current position, what would you think? Regarding these two key positions for ETH, it's not just about supply; what I care more about is how to proceed if there is a breakout. In this cycle, the 4100 level has failed to break through three times, and this is based on the trend after the ETF approval and interest rate cuts. So if it can break through this time, how it breaks will be crucial. 1. Breakout and retest: This kind of movement is healthier and more stable. The altcoins that are likely to follow will continue to raise their bottoms, waiting for the final pump. 2. Direct violent breakout: This kind of movement will cause the market to start FOMO, especially for tokens within the ETH ecosystem that have strong communities and strong capital. At this point, 30-50% large bullish candles are likely to appear frequently, but I will feel quite exhausted because bubbles will also emerge. In summary, the method of breaking through key positions is very important. Be prepared, trade according to the rhythm, and raise stop losses to protect profits.