DrGonzo87

Factom's Giant Pennant

Long
POLONIEX:FCTBTC   None
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.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out