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
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
Note
of course everything changes when BTC dropsif BTC fails at 8.4k this might fail
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.