ETH these past three days can really drive people crazy. Narrow-range box trading back and forth, as if stuck in a dead zone, with both bulls and bears taking hits—short-term traders are almost out of patience. Even those who have been watching the market for years have to complain: this is not really trading; it's more like being punished for standing in a box.

But a turning point is just ahead. The expiration of options on December 26th is coming, and this stagnant, water-like consolidation is about to blow up. To be blunt: today’s volatility will definitely be extremely intense, with both ends showing sharp spikes and quick losses—it's standard. Those daring to go all-in with high leverage probably won’t make much money. Put away your luck-based thinking. My advice is: survival is always more important than bottom fishing.

First, a reassurance and a warning. For those without positions, the smartest move today is to observe and rest—wait until the options expiration in the afternoon truly settles the market and the trend becomes clear before taking action. There’s no need to rush. For those holding positions, immediately tighten your stop-loss to the maximum, strictly follow it without hesitation. If you’re still thinking about holding on to make quick profits, you’re likely to get caught today.

The core judgment is this: three days of narrow-range consolidation seem directionless, but in reality, both bulls and bears are holding back, waiting for this key options expiration point. The POC is stuck at the 3000 level and can’t move; even 3000 can’t be reclaimed now, indicating that short-term bearish pressure remains strong. But bulls haven’t completely given up, so today is the day to determine the winner.

If bulls really launch a counterattack with increased volume, fluctuations of a few hundred points up or down are minor. Conservatively, expect a range of 100 to 300 points. Never underestimate the power of options expiration. When volatility hits, risk control must always come first.