breakout above the red downtrend line is the new trend confirmation
wave 3 can extend more than 1:1 but safe target = 1:1
wave 5 can hit 1.618 if wave 3 hits 1:1
wave 5 can hit 2.618 if wave 3 hits 1.618
Comment:
of course everything changes when BTC drops
if BTC fails at 8.4k this might fail
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if BTC fails at 8.4k this might fail