Since BTC is working on wave 2 of upward pattern. it hasn't even retraced .5 yet. I would say at least .618 around $7723 would be minimal retracement. I won't be surprised if it's .786 to bring it $7200. then wave 3 would be strong enough to breach $12k resistance line. but I am expecting Wave 5 to be violent and get to ATH $21,300 or so. So far our support line has held solid, so a parallel resistance line can give nice idea of where wave 5 would end.