The bearish flag pattern for ETH has basically completed. The first wave of decline formed the flagpole, followed by consolidation creating the flag surface, and currently, a downward break has been chosen. Yesterday’s oscillation likely misled many into thinking it was a rectangular correction, but after a false breakout, the market quickly turned downward.

Once the flag pattern is established, the typical decline magnitude is usually similar to the first wave of the flagpole, and no clear reversal signal has appeared yet.

From the 4-hour perspective, the downward trend will continue. There are two possible scenarios: one is a direct continuation of the decline, and the other is a rebound followed by further decline. Considering that a direct drop often leads to a quick rebound and consolidation, the second scenario is more conducive to cautious short positions.

In conjunction with tonight’s non-farm payroll data, if the release is positive, it may trigger a small rebound in price, with the high point expected around 3030-3050. It is recommended to place short orders near 3050-3070, as this area acts as a resistance level at the lower boundary of the flag, with the next target for further decline at the 2760-2730 range. $BTC $GT $ETH #比特币跌破关键价位 #