$ETH
The bear flag pattern is a classic bearish continuation pattern in technical analysis. It forms during a downtrend and indicates that the price may continue to decline.
The bear flag consists of two parts:
Flagpole: A rapid and severe drop in price. (Purple solid line)
Flag: After the flagpole ends, the price enters a brief consolidation phase, forming a relatively narrow, slightly upward-sloping channel or rectangle (opposite to the downtrend).
On the left, I will place a sell order in the 3080-3150 mid-range. No take profit or stop loss is set for now. Position size should be controlled well; if a hard stop loss is necessary, it can be set at 3280. Personally, I prefer to use manual stop loss.
The risk point lies in whether the flag surface still has a third push, as shown by the purple line on the right.
However, based on the current B-wave rebound time cycle, there isn't much time left! The possibility of a third push is small; if there is an opportunity, it will be around 3750-3820.