ETHEREUM -- a corrective move down lower is likely coming, setting up a buying opportunity

Here is the latest chart on Ethereum that I'd like to share with you

ETHUSD - 2018_05_16_1hr - May-16 2200 PM (1 hour).png

Its been following the expectations laid out in my previous blogs such as this one:
May 15th: https://steemit.com/ethereum/@phisight/ethereum-following-the-expectations

May 14: https://steemit.com/ethereum/@phisight/update-on-bounce-in-eth-usd-ethusd-in-progress-watch-the-resistance-zone-as-it-could-turn-down-for-one-more-low

May 13: https://steemit.com/cryptocurrency/@phisight/bounce-in-eth-usd-ethusd-in-progress-watch-the-resistance-zone-as-it-could-turn-down-for-one-more-low

May 12: https://steemit.com/cryptocurrency/@phisight/a-bounce-in-eth-usd-coming-is-the-correction-over-is-the-question

Well, my primary expectation has been that Ethereum will turn down one more time to target the 550 level or even the 497 level (lower probability) and it is still following that expectation. If the price breaches the previous high at 833, probabilities shift in favor of new uptrend targeting 2243+.

Today we got a bounce, tomorrow May 17th, we may see a sharp move lower. BUT, that's not a bad thing - its a normal correction, setting up a wonderful buying opportunity!

Hope this analysis was/is/will be helpful!

Note: you can right-click and open charts in new tab to see them at full size -- they are quite large and clear.

Thank you!.png :