Compared to BTC's price movement, ETH has recently shown a stronger performance. Looking back, after closing out the long positions around 3250, I haven't made any new moves on ETH. During this decline, I basically didn't publish new entry points. The reason is simple—although the long target was indeed set at 3250, this level is not the optimal entry point for shorts.

Currently, ETH's action remains relatively firm, but the overall trend still maintains a downward trajectory. Interestingly, a chart pattern has formed during this period. Many people might see it as a consolidation rectangle, expecting an upward breakout, but I personally believe it is more likely a bearish flag formation.

If it indeed is a bearish flag, a small rebound could very well evolve into a new round of decline. The strategy isn't complicated: first identify the pattern clearly, then short at the rebound high. Bear flags typically have an upward-sloping resistance line, with the high point expected around 3150. To participate in short positions, it's advisable to look for opportunities in the 3150-3200 range.

One thing to watch out for is that such patterns are prone to trap traders—false breakouts followed by accelerated declines. Once a true downtrend is confirmed, the next target is approximately around 2930.