$FTM #FTM Time for some Weekend Scalpsdownside should be limited,
shouldnt get anything major over the low volume weekends, alts could get nice rallies. 0.236 - 0.382 are GREAT areas to bank some profits (ideally wanna derisk or close by premarket on Monday), or let it run.
a 5 wave move down is clearly visible.
In the bearish scenario, Im favoring a leg missing as the wave v extension target range was NOT reached. This can play out differently from the count as there are H&S patterns on FTM and multiple crypto charts across the board. If by chance it swing down to the wave v extension range (pink box), thats a buy zone target.
In the bullish case well thats self-explanatory so take profits as you like, just before resistance levels are most common
We're shooting to scalp for a wave iv type bounce, taking out the pivot high near the 0.5 fib approx $0.445 which is roughly 25% from this low.
Risk:Reward LFG!!