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RE: BITCOIN BTC Jan 19 12 Minute Morning Update - Consolidates in Ascending Triangle. Bullish or Bearish? Both Views
i agree on the patttern but let's have look at the definitions.
http://thepatternsite.com/EWTriangleAscending.html
http://stocata.org/ta_en/elliott6.html
as you will see, the ascending triangle in a bear market will result in a drop not up.
also, we need to keep an eye on the wave 1 of C and the retracement of the wave 4. They shouldn't cross but the target you give does.
Please feel free to correct and educate.
they can overlap fine in many circumstance with subrules. here's one as an example from a text book. this rule holds true for corrections in specific sub waves and specifically in ending diagonals as well. and more.
