Factom (FCT): Basin Phase Mode

SUMMARY

Factom (FCT/USD) has a known personality trait. And that has to do with its affinity to patterning out rounded price formations. And, as the chart below shows, extended 5th waves. The blue impulse waves show a wave 5 that is more than 2.25x of 3. So, how can the rest of the chart be labeled?

Given its propensity to rounded price formation, FCT is likely generating another one but much bigger (blue). However, FCT is still within the basin phase mode (white rectangle). It's only a matter of time before price breaks out of this phase and starts earnestly to build teh right side wall as shown by the blue impulse. The MACD is poised to support as well.

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