As is shown in the chart, the red line is the highest candle close in the weekly time frame. According to the wave count, if this week's candle closes higher than the line, we can assume a great potential for the establishment of a bullish third wave that is happening with a bearish whole crypto market(It can make a lot of sense).
we are in ii or b or i or v? if it tends to uphold by 0.618 fib level, that can be confirmation of expecting another downfall to near 20k or lower, if breaks it to the higher prices we can have multiple scenarios Whether price drop and fall after achieving prices near 60k to 25k or approval for higher goals.
