Red Pulse (RPX): Awaiting Pattern Confirmation

SUMMARY

Red Pulse (RPX/BTC) has likely completed an expanded flat correction. Note how red wave B is higher than the origin of A and C is lower than the bottom of A. These are the attributes of an expanded flat but while still having 3,3,5 subwaves. The current price stage is also forming the terminal end of a downward wedge (blue) which is bullish as it's pointing downwards? Why does the direction of the lean make a difference as to whether it's bullish or bearish?

The distinct shape of a Cup & Handle pattern is also being built. I believe that the pattern is nearly complete and the confirmation is next. This would mean the price would breach out of the handle formation and start impulsing. Note also the Elliott Waves. The white 1,2 waves nest the blue wave 1,2. This called a nested 1,2 sequence. The blue 1,2 are subwaves to the white 3 as shown. I have NOT drawn the waves to proportion as that won't be important until the Cup & Handle becomes confirmed.

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