ETH has been in a major downtrend over the past few days plummeting by 25% in 4 days.
There were obvious reasons to short from that point 4 days ago as we broke under a major uptrend line and were rejected by a major downtrend line from March at the same time.
Target would have either been the next uptrend line or a 1:1 ratio of the previous downward wave. Ethereum gave us yet another short set up as we broke under and was rejected by the trend line.
Ethereum has given us no reason to go long as we still cannot get over the red downtrend line.