ETH - Be careful with your longs

Zooming in on the daily timeframe, we can that we´ve already made a very decent pullback to the upside (see related idea).

ETH has reached the 161.8% A-B-C extension, which is showing resistance (green level).

I´m not a buyer at current levels, and expect another leg down, or at least a pullback to the 1400 region.

If bullish price action continues, I´ll reconsider.