The analysis reviews Virtual Protocol, noting a potential upside impulse from an October swing low. Concern centers on data quality post-October crash across exchanges. A bullish view suggests wave 4 low on a macro level, potentially leading to $8+ in wave 5; though a level-by-level approach is advised. An impulse is tracked on a small time frame. A deeper pullback to hold a higher low in wave 2 would open to higher prices. A bearish scenario considers a corrective bounce to around $5.8. Currently the analyst is watching for higher against $1.51, with an initial target of $2.10.