Ethereum - Doesn't look good right now !

Made only 3 waves down and currently is up in 3 and is at the 161.8% projection of orange wave a from b and the 127.2% of (w) from (x).
This is an important Fib cluster that can react as resistance and the fact that we also have the 78.6% retracement level of the Diagonal doesn't help the bulls.

Therefore, unless we see a new high above 420, I recommend to be very cautious here or short if you like.