Long

FTM breakout pattern in play

Updated

FTM bottom may have been printed last Nov, or we may have one more low to complete the sequence. Time will tell. For now, can see a breakout pattern in play, you know the drill where to TP and set stop loss. IF we push up higher, you can trail the stop and let it ride risk free.
I would consider 28c and 23c as targetted stop loss areas. IF we pullback, will just have to look for another entry.
Trade what the market provides
Good luck and happy trading
NFA.

Note

Targets are fibs
spread out TP sell orders around those lines. Aim to de-risk most your position by 65c resistance, from there can just adjust stop loss into risk free position and let it ride if dosnt get stopped.
We are focused on that 90c target since last year when FTM reacted aggressively off the lows, its been trading lower ever since that 65c peak. Time to retest it and take out some pesky shorts.
If we end up dropping below via BTC dump, BUY it. The reaction from below 20c is too powerful for bears. Its a buy zone, DCA n hodl

Note

manage your stop loss accordingly. Better a small loss than a bigger loss. Were not in the clear just yet. It may come back to retest the low and possibly put in another low to complete the sequence.
If FTM retraces past the 0.5 fib, then can favor sequence completed
We havent gotten clarity just yet, but we can favor the move up has started. Just be aware, of above mentioned in case it does drop first.

Note

IF we do make move lower, these are targets to DCA your buy orders (never over invest)

Note

FTM has exceeded the 0.5 FIB, favoring the 2022 low as wave 3 completed and current wave structure as a double corection ABC to complete wave 4.
Wave 4 typically retraces 0.236 - 0.382 the move started and shall not exceed 0.5 fib

The low held in place. wave iv was taken out favoring 5 waves complete.
Its possible a 3 wave pullback may present itself for buyers who will most likely support the low in place favoring further upside and target range between $0.68-$0.90.
We will update target more in detail as wave structure prints
Unlikely that FTM will drop below $0.20 at this point

CryptoHolix

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