Ethereum Bearish Trend Is Confirmed: “Inclined to say down will be the direction we take…”

Ethereum has been really choppy these past few days in trading but we managed to play the chop pretty well. For inexperienced traders and swing traders, it was a nightmare but day traders had a field day. Now it looks like ETH is trying to break down and away from all the bullishness BTC has.

Diving straight into the H1 chart we notice some things. We are in a clearly defined order block as we can’t seem to break over or below this area. We rest on support but also sit under a lot of resistance. Picking a winner here is guesswork but I am more inclined to say down will be the direction we take.
The reason I say this is because ETH broke below the up-trend line again but in order to confirm this break down we need at least one solid bear candle close under the line or a series of H1 candle closes below.
The H1 STOCH is pretty low so we can expect an attempt at the trendline again. After confirming a break down we can look to short into the next uptrend line I have here; the target is red.
In order to sustain a bullish outlook, we must close over the trend line again and break back over resistance, a close of 470 will open up a 480 target from days before. If we manage to reach 480 we will look to go SHORT.