FACTOM (FCT) Correction Could Bottom with a Chance of Time Extension

SUMMARY

From a pattern perspective, Factom (FCT) has completed two rounds of rounding price formation which is bullish. Given how extended wave 5 is, the correction's depth of retracement is not a surprise. However, the time extension seems a bit minimal; so even if price breaks out of the blue wedge pattern, further sideways action could be required.

The subwaves thus far show a double three blue WXY and yes, this has a good likelihood of extending. The last red c wave of blue Y still has wave 3,4 and 5 to place. I believe near wave 5 and later if it further extends, could be attractive entry ladder cast opportunities.

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Elliott Wave Counting Tutorial #1
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Tutorial on the use of Fibonacci & Elliott Waves
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