ETHEREUM UPDATE
Ethereum / TetherUS BINANCE:ETHUSDT
HTF are still showing multiple bearish patterns- the market has not yet come down and tested the monthly demand zone at around 1980. We can see how ETH is following BTC as we would expect and currently removing the liquidity of traders who entered short positions to early – this bullish move today ahead of the FED interest rate decision to me looks very much like a trap – FED are due to hike rates by 0.25% today which will be the first time since 2018. This could cause a rally on the USD index which will push the crypto market down . We are monitoring PA on the lower timeframes and waiting for a valid entry to short as high as possible.
