ETH current possible scenario

I believe that ETH will hit $806 which is the 1.618 fib extension of wave 1-2 and will mark the end of wave 3. Subsequently if wave 3 bounces of this target, i believe a likely target for wave 4 will be $720 which is the 0.5 fib retracement level of wave 3, as wave 2 was a simple 3 way corrective pattern wave 4 could possibly breakdown into a more complex correction pattern, we could see price fall to around $700 which is the top of wave 1 and the .618 fib retracement level however this is a risky scenario.

The target for wave 5 is possibly $850-$880 based on a strong resistance level from early March. Possible entry at $720 protective stop at $690 ( the price territory of wave 1) beyond this price by a new candle would suggest a continued downtrend

This is not investment advice, just my opinon