If the price falls below say about the blue line, the uptrend is violated and there might be a more sustained dip down. The two fails (Blue arrows) before might be seen as alarm signs for weakness.
If on the other hand this dangerous situation is overcome and the wave count is right, there will follow a more pronounced upmove as a wave 5. Wave 3 was 1.62 x wave 1. Now if wave 5 is elongated and 2.62 x wave 3, the target is 98000 USD.
This is what I think will happen.
If on the other hand this dangerous situation is overcome and the wave count is right, there will follow a more pronounced upmove as a wave 5. Wave 3 was 1.62 x wave 1. Now if wave 5 is elongated and 2.62 x wave 3, the target is 98000 USD.
This is what I think will happen.