Anyone who has an interest in Factom, FCT/BTC, This may give you a long term outlook.
BTC will correct after strong rising impulse, so FCT/BTC will be rise. Wait for breakout ressistance line for confirm long position.
Ascending triangle pattern with breakout and test of structure. If the triangle is re-entered and breaks lower, the trade will be invalidated.
FCTBTC -Gann - Butterfly - back to test 56 ~
Bulls are gonna win the squeeze!! $FCTBTC
Pair recently tested psychological round number which is 5k. I marked with three orange ticks something similar to triple bottom. I believe that after third attempt has been rejected by market there is good chance that pair will continue bullish trend and will try to reach another significant level which is 0.007400.
factom may have topped here, there could be more upside, in fact the longer term trend, going into fall 2018, has a top forecasted for .025 area, so over the long term, factom looks solid, but there may be better entry for longer term long position.
Info FCTBTC 8,753,219 coin Circulating Supply 8,753,219 FCT $6.98 (13.21%) 0.00574097 BTC ( Market Cap $61,079,262 50,252 BTC coinmarketcap.com
Factom has had solid fundamentals for quite some time, but has been constrained by its technical structure. When the 1D closes outside of the trendline, .0043ish should serve as an excellent RR entry, assuming it will retest the trendline before taking off. I'm expecting at least 2x potential. As we have seen in the past, when factom moves, it moves quickly.
Just transferring some of my ideas from my old biggullycoin account. New stuff soon
We are getting close to the end of this huge penant. Breaking it could make Factom go on bull mode and make a parabolic move, potentially going after new highs, kinda like what XMR, DASH and ETH just did now. So will be watching this one. I hold no FCT atm. Will try to see if i can snatch some on that buy zone, otherwise will get in on the breakout.