ETH/USD More Downside?

ETH/USD went 3 waves down from $4350 to $1800 and then entered in a horizontal phase which I think is wave 4 before continuing with wave 5 for more downside. Also, since ETH/USD looks like it has finished 5 waves (ABCDE) inside this triangular formation (wave 4), the price may breakout to the downside to retest the $1800 level as our first target.

Breaking this area ($1720-$1800) will be very dangerous for ETH and may open more room for more downside to possibly retest $1000 or even less.