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RE: BITCOIN BTC Jan 19 12 Minute Morning Update - Consolidates in Ascending Triangle. Bullish or Bearish? Both Views

in #bitcoin7 years ago (edited)

Your ascending triangle for LTC is just lines drawn on a chart. Triangles are triangles because they have a ABCDE that touches the top and bottom lines. If you were to change your resolution on the LTC chart you will see that a smaller triangle at the end of the triangle has a A-E correction that starts at the bottom. If you also measure the height of that smaller triangle at the back that will be roughly the amount of drop on the front.

Just because it looks like a triangle does not mean that it is an actual A-E triangle.

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