ETH/USD Daily cautiously bearish. Recommended ratio: 10% ETH, 90% Cash. *FOMC WATCH tomorrow at 2pm. For those thinking that Celsius Network is what caused this recent crypto downturn, the same can be said for Terra, and both look like prime scapegoats but the fact is that they merely added fuel to an already blazing fire. $9.3 trillion has now left the stock market since the Fed announced QT in January, add supply chain woes prompted by Covid-19 and later exacerbated by Russia/Ukraine (as well as still ongoing lockdowns), and we are beginning to paint a clearer picture as to why speculative capital is fleeing equities and crypto.* Price is currently trending down at $1200 but is still technically testing the lower trendline of the descending channel from October 2021 (~$1400) as support. Volume is High and is currently on track to favor buyers (after seven consecutive sessions of seller dominance) if it can close today in the green - buyers are showing up at this current level. Parabolic SAR flips bullish at $1750, this margin is mildly bullish. RSI is currently bouncing at 21 and is still technically testing the uptrend line from 01/22/22 (26.50) as support - it would need to climb back above 26.50 quickly to retain support. Stochastic remains bearish and is currently on the verge of crossing over bullish at max bottom. MACD remains bearish and is currently testing -197.34 support with no signs of trough formation; the next support is at -318.82. ADX is currently trending up at 43 as Price continues to fall, this is bearish. If Price is able to bounce here then it will likely test the lower trendline of the descending channel from October 2021 at ~$1400 as resistance before potentially reclaiming legitimate channel support. However, if Price continues to break down here, it will likely test $775.83 support for the first time since breaking above it in January 2021. Mental Stop Loss: (two consecutive closes above) $1400.