Solana Down then Up. Retest of the breakout. 200 area target

My theory is we go down first before going up. We finish this ABC correction and touch down to the 1.618 retracement lvl. I put the retracement lvl from the bottom of A to the top of the breakout to get the retracement levels.

The 1.618 lvl touches the trendline and we get a proper retest. I know we have a wick that came down and touched. But I am not entirely convinced that is enough.

Afterwards we have a trend based fib extension that I drew on the right to measure the next big macro move. targeting 700 area. ( not immediate move) but the macro.

Theories and Ta used.

Elliot wave, fib retracement , trend based fib extension