giorgiovie

ETH difficult time after 1400 hard rejection

Short
BINANCE:ETHUSDT   Ethereum / TetherUS
ETH has been strongly rejected from 1400 as BTC from 20500 , both back to the same level before the pop, US Dollar is very strong and this is hard to overcome for the crypto market, interest rate high means higher cost of US Dollar and that is visible on the chart either for precious metals; ETH is back to the neckline of the box between the high and the low after the interest decision of the FED 1217-1407 , under DO and MH and has been sold off at the 1400 level , 4H RSI is overbpught ,all looks bearish, no doubt , so my view is not change , I still preferred to sale the high than to buy the low , will wait the Asia Session and will see how London will open tomorrow morning prior to eventually start a trade, will really look for bearish formation more than bullish as a daytrader i do not like to go against the market; will see tomorrow morning if a good spot will opened to enter a short position; i will keep shorting until the trend will clearly change, i really do not like to go against the trend ( today trade is a proof of it ), will patiently waiting for ETH to prove that can overcome the strengh of the US Dollar and than eventually i will start to look on the long side.
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