Bitcoin Forming Double or Triple Zigzag as Intermediate Wave B

Bitcoin appears to be developing a double or triple zigzag as intermediate wave B of the last zigzag in the WXY pattern.

The trend line that began forming in 2015 on the logarithmic scale is still acting as strong support.

All of the Elliott requirements have been satisfied for a double zigzag, so prices could begin moving down and eventually break the 2015 support at any moment (the light blue line outcome).

If bitcoin develops a triple zigzag, it must still finish Minor wave X and Minute waves A, B, and C (Minor wave Z) before intermediate wave B completes (the dark blue line outcome). Under this scenario, bitcoin will probably continue to move sideways for approximately the next three weeks.