Bitcoin Update: Zig-zag projection

Hi Everyone,

Though I'm bullish in the mid-term on Bitcoin, it appears there may be a zig-zag pattern being formed - and this could lead to lower short-term prices.

If this is the case, then there is a high probability that we may see price descend below 50k again, and potentially as low as 41k.

This 41k projection has:

1) Fibonacci 38% support
2) Moving average support on the daily and weekly time-frame
3) and is also the 100% extension of Wave A.

This analysis is void if we break above the level marked by the B wave at 59k,

Good luck

kalio5