It looks like we could potentially bounce up again here. If so, I'm looking for ETH to retest $400 - $405 before continuing down to $250 - $300. What's most important to highlight here is the overall structure. Everything is clearly 3 waves here. It is corrective - this is neither a breakout nor bullish.
Commento:
Note that we are currently trading at the .786 (Ethereum's most reactive fib. level). It's entirely possible that the structure is finished here so I would highly advise against chasing it with a long here.
