stevepuri
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Triple Zig-Zag ?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Triple Zig-Zag ?
https://bitcointalk.org/index.php?topic=2711461.msg29701404#msg29701404

Amidst a global stock market flash crash, a spectacular sell-off continues in cryptocurrencies at an acceleration quicker than anticipated!

Rather surprisingly, the 61.8% Fibonacci retracement level from the all-time highs, and nearby zones of clustered support levels (derived from wave extension relationships); have all failed to provide any meaningful areas of confluence.

And so therefore, the next natural support zone is at the 78.6% Fibonacci retracement level from the all-time highs; i.e. at $4257 (Bitfinex).

In regards to the anatomy of wave formation, a rare Triple Zig-Zag structure may be in progress to conclude the final stages of the first crash wave.

https://i.imgur.com/YzLeo24.png
https://i.imgur.com/igYrfW3.png
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