$ETH entered the second, larger bear flag after breaking below the first bear flag on 12/15, repeatedly testing the lower support, bouncing back and forth.
Currently, the implied volatility is still around 60, very close to the turning point.
Possibility 1: Increase volume to break below the bear flag's lower boundary, around 2900-2920, and add to short positions on the right side, target 2674.
Possibility 2: Increase volume to recover above 3040, with 3200 as the limit, and build short positions in batches, with a 1% stop loss.
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$ETH entered the second, larger bear flag after breaking below the first bear flag on 12/15, repeatedly testing the lower support, bouncing back and forth.
Currently, the implied volatility is still around 60, very close to the turning point.
Possibility 1: Increase volume to break below the bear flag's lower boundary, around 2900-2920, and add to short positions on the right side, target 2674.
Possibility 2: Increase volume to recover above 3040, with 3200 as the limit, and build short positions in batches, with a 1% stop loss.