Recently, ETH has been stronger than BTC. After taking profits on a long position at over $3250 last time, I haven't traded ETH again. I didn't participate in this decline, while I basically sent points for other cryptocurrencies. At that time, although $3250 was the target for the long position, it wasn't a good short position, so I didn't issue a short signal.

Currently, ETH is relatively resilient but still in a downtrend. Many people see the current pattern as a "consolidation rectangle," believing it will break upwards after the consolidation ends. In fact, I tend to think this is a "bearish flag pattern," which has a higher probability. If it really is a bearish flag pattern, after a minor rebound, it will likely continue to decline.

After recognizing the pattern, just wait for a rebound to the high point to short. The resistance line of the bearish flag pattern (the upward-sloping line) is roughly around $3150. It is advisable to choose an opportunity to short in the $3150-$3200 range, as this pattern can easily create a "bull trap"—a false breakout followed by a sharp decline. Once a valid decline occurs, the target is likely around $2930. ETH