If we fail to break out of the trend at $6,400, which I don't believe we would fail, we'll fall out of the descending to $4,800 and $3,000.
With lower comes more oblique angles in the reversals of price. These means less momentum/pressure to both the up and down side. The first reversal line is almost vertical, the second at a 45 degree and the third even more shallow. We can expect the pattern to continue for the next waves. For this current wave, the resistances and fibonacci line up well with each other. waves can tell a rather predictable climb up, assuming things go well. Finally, if doesn't kick this reversal beyond the down , we'll see $5,800 and $5,500 as new bottom targets as we reach the bottom of the descending .