ETH gets clean bounce off 1.414 fib

ETH has done something similar to what BTC is doing on the 4h time frame which is bouncing off the 1.414.

Short-term targets would be the 0.618 and 1.272 retracements.

If we broke below the 1.272 or previous low I would reconsider my short-term bullish stance.

I think this is a bullish sign for at least a temporary reversal in price direction.

Short term I think we will see some relief to the upside.

From there I will reassess the situation.