ETH short term bounce

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
We seem to be forming a flat ABC correction on the larger scale, which suggests we are currently in the B wave coming down. Since we have completed 5 waves down on the minor scale I am expecting a bounce for the (B) wave up to the red resistance zone . This resistance zone also corresponds with the 0.618 fib retracement upwards and several EMA resistances on different times frames. Bulish divergences on the RSI and MACD also suggest a bounce.
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