DrGonzo87
Long

Factom's Giant Pennant

POLONIEX:FCTBTC   Factom / Bitcoin
Factom/FCT looks like it's coming to the end of a long consolidation and is nearing a breakout. If this breaks to the upside we could see a major price movement comparable to recent breakouts like Monero/XMR and DASH. Much of what happens next depends on Bitcoin , but I expect possibly a short-term sell-off to the ~300k satoshi area to retest new structure support and shake off daily RSI bear div . The recent DASH breakout saw price hit the 4.236 extension, and I don't think it is out of the question for FCT to do the same, which would be ~3.3 million satoshi price. Other extensions are: 1.618/1.3 million sats , 2.618/2 million sats , and 3.618/2.8 million sats .

Edit: Ignore the RSI nonsense, I left it in accidentally.
Comment: Re: RSI. The daily doesn't make a lot of sense but the weekly RSI shows a bottom wedge with that line superimposed. At the moment it looks like the weekly RSI wedge has been broken out of to the upside.
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