ETH, forming a downtrend.

The following are machine translations:

In the 4-hour chart, the resistance near 1700 is too strong, and it is not close to 1700. The highest is only 1663. The bears launched a violent counterattack. At the same time, the macd indicator and the RSI indicator diverged from the top, and the current trend is down, reaching 1400.
The golden fork of the indicator macd was rejected several times before, and the speed line is about to fall to the zero axis. The downtrend of the RSI indicator fell below the neutral 50 and is now at 36, with room to fall when it reaches oversold.
Summary: The 1700-strong resistance above the head and the deviation from the top of the indicator form a downward trend. It fell by nearly 10% last night, and the bearish sentiment is high. In the case of continuous decline for 4 hours, there may be a rebound, and the rebound to the 1450-1480 range can be deployed Go short and look at 1300-1350.