Good morning

The tough times continue for crypto.

I wanted to post an update yesterday but the cointrader charts were stuck all day, kinda annoying.

Anyways, we probably completed the 1st zigzag in the downward direction since completion of the triangle Y situation, probably at least another one to expect.

Is it possible that we have another WX triangle Y at the bottom to complete the correction? Not very likely because it is too small compared to that first zigzag. If we exceed that x wave something more bullish could be going on. But until then another (hopefully terminal) zigzag in the lower direction looks more probable for me.... We'll see...

Let me end with a reminder of the big picture :

I have connected the 0 with the where the 2 potentially ended. That trendline can act as support level, but the line can be breached and we can go a bit lower then that, that is not a problem, only 2 & 4 have to connect. As stated before a break of the 2020 November lows is not allowed if we are in an expanding diagonal.  

Very interesting times indeed.

That's all for now.

Have a good one!