Today it seems there's not much to analyze. We are all too familiar with this kind of trend. Can you feel it?

Market information can lie, but the positive and negative relationships between patterns and volume never lie. This is actually the core of Chan Theory. Having the skills is not enough without the heart and soul. If you still can't understand, maybe you really shouldn't learn such complicated things.

At present, as expected yesterday, a smooth bearish movement has formed. It successfully broke through the long-term key long-short level at 1695.
In the short term, the market entering a sideways consolidation will only lead to two scenarios:
1. Following the trend, a 15-minute drop to test the final defense line at 1600.
2. During the oscillation, a 15-minute center upgrade forms, creating a deceptive trend to wash out more people.
Currently, 1688 is the key level suppressing a rebound. Oscillating below this level, both scenarios are considered valid, but the second one can create multiple complex movements and even end this decline.
The key today is whether the support at 1663 is effectively broken, which is one of the important factors for judging the two scenarios.
An effective breakdown means at least two consecutive 15-minute candles close below the level, and there is no massive volume rebound. $ETH