Yesterday's Bitcoin surge looked very weak, clearly a low-volume rally, like fish flopping around without strength when fishing — just flailing and not moving far.

It reached around 68,400 and then formed a bearish engulfing top pattern. Key resistance levels couldn't be broken through, which is a clear signal to short.

I initially thought it would retest the upper trendline of the flag pattern for consolidation, but instead, it dropped straight back into the flag and even broke below the previous low. Luckily, it didn't break the bottom of the flag pattern, or it would likely have headed toward the 60,000 level.

Now Bitcoin is testing a breakout of the flag pattern again. Focus on these zones:

• Don't expect a big rally unless it breaks above 68,400

• Only when it stabilizes above 66,585 will it trade in the 66,585-68,400 range

• Falling below 64,771 could lead to increased declines

Trading strategies are like fishing:

• Buy on volume breakout above 66,529; short if it drops below 66,033

• If it holds above 66,698, target 68,416-69,968

• If it falls below 65,656, look for lower targets at 64,569-63,586

$ETH Ethereum's synchronized approach:

• Buy on breakout above 1,955; short if it drops below 1,933

• Buy on retest at 1,898; short around 2,000

• If it drops below 1,924, expect further decline to 1,871-1,815