ETH Daily neutral with a bullish bias. Recommended ratio: 57% ETH, 43% Cash. *Cryptos enjoyed a rally to start the weekend but then came the Sunday Scaries (a corrective sell off after a weekend rally), this is typically bullish going into the next week but given the bearish sentiment in markets it may signal that more downside is to be expected. Fed Vice Chair Lael Brainard gave a speech on crypto and DeFi last Friday (06/08). In it she confirmed that the Fed is still working on a CBDC and that more traditional finance regulations are coming for DeFi ("same risk, same disclosure, same regulatory outcomes") to prevent exploitation, undisclosed conflicts of interest, and market manipulation. She once again stood in support of what crypto has to offer and stated that regulations shouldn't stifle innovation, referring to cheaper + quicker cross-border/remittance payments and collateralized loans. Brainard ended the speech by commenting that perhaps accountability should be shifted to protocol developers and transaction validators; which begs the question of which agency would be responsible for this legislation (Bureau of Industry Security? Export Administration Regulations?). Key dates to watch for this week: June CPI report at 830AM (EST) on 07/13 (if it comes in higher than the consensus estimate of 8.8%, expect for a dip in almost all markets).* Price is currently trending down at $1170 after being rejected by the lower trendline of the descending channel from October 2021 at ~$1250 on the first formal test; this not abnormal considering that it is a critical resistance in the largest supply/demand zone on the chart. Volume is currently Low and on track to favor sellers if it closes today's session in the red; the fact that Volume is low makes this rejection weak and Price still capable of a retest/breakout. Parabolic SAR flips bearish at $1015, this margin is mildly bearish at the moment. RSI is currently trending down at 43; the next support is at 37 and the next resistance at 55. Stochastic remains bearish for a second consecutive session and is currently trending down at 85 as it approaches a test of 81 support. MACD remains bullish and is currently beginning to form a soft peak at -62; though it's just below -47 minor resistance it is still technically testing -91 resistance. ADX is currently trending down at 34 and is beginning to form a soft trough as Price is facing rejection, the hint of a soft trough formation is in line with the downtrend but because it is still trending down this is mildly bullish. If Price is able to break out above the lower trendline of the descending channel from October 2021 at ~$1250, the next likely target is a test of $1427 resistance. However, if Price continues to break down here then it will likely retest $1000 psychological support before potentially testing $776 support. Mental Stop Loss: (one close below) $1135.