Many thought Factom would never retrace and this one was more brutal than ever with a full retrace of the move for its holders; nothing defies the laws of crypto. Currently we are in an amazing historical accumulation zone and this time around its no different. With many solid investors behind the project, amazing dev team, critical partnerships with DHS and the BG foundation, Factom is the premier choice for data decentralization and the only worthwhile solution. Expect important announcements coming from them in the near future.
Here is the zone in the big picture
The 1 hr is always the key timeframe to watch for signs of a breakout. Factom currently seems to be making higher lows as well as fighting the downtrend and 1hr cloud at this moment in time. I highly doubt we go much lower from here, I am unsure who would be willing to let go of a large holding at these btc prices. If we hold the 0.5-0.618 zone, would be extremely bullish and likely the confirmation of a trend reversal.
Both the 3d and weekly stochrsi are dead on the floor and show strong buys.
Here is the zone in the big picture
The 1 hr is always the key timeframe to watch for signs of a breakout. Factom currently seems to be making higher lows as well as fighting the downtrend and 1hr cloud at this moment in time. I highly doubt we go much lower from here, I am unsure who would be willing to let go of a large holding at these btc prices. If we hold the 0.5-0.618 zone, would be extremely bullish and likely the confirmation of a trend reversal.
Both the 3d and weekly stochrsi are dead on the floor and show strong buys.
Comment:
Trade working out nicely