ETH Gave a Perfect Bear Flag Breakdown During NY Session

May 23

After spending a good amount of time in a consolidation/accumulation range, ETH started showing signs of weakness instead of strength.
The upward move inside the range lacked momentum, volume confirmation was weak, and every bounce looked corrective rather than impulsive.

A classic bear flag and pole pattern was formed on the 4H timeframe:

• Initial bearish impulse created a pole of around 102 points
• Price then moved into a weak rising consolidation channel
• No strong reclaim of key resistance or moving averages
• Breakdown finally came during the Friday NY session with aggressive momentum

What makes this setup interesting is that the downside move after breakdown traveled almost exactly the same size as the original pole — nearly a perfect measured move completion.

This is a good example of how:

• weak consolidation after a dump can act as continuation
• small higher highs alone are not enough for bullish confirmation
• volume and momentum matter during breakout attempts

The market gave multiple signs of distribution before continuation to the downside.

May 24

Trade closed: target reached