As this is my first chart i want to map the correlation between FCT and XMR's hype with the chinese BTC spot market at OKCoin.
As you can see the DNM market announcements gave XMR a very huge boom, the retracement isn't done yet - regardless to BTCs price we will have a decrease, with some smaller spikes.
In the same time FCT made nearly similar moves, in the beginning more aggressive but then we saw full retracements - especially in the timeframe from June-July related to BTCs moves - but always a bit later on.
As we are now in BTC sideways (19.9.2016) and probably have another correction till mid or end October, I assume FCT to achieve it's ATH from March 2016 again.
When will it happen? As XMRs correction passes FCTs uptrend - around the 500-600% scale we will have a very good opportunity to get to ATH.
FCTs forecast? Depends mainly on BTCs trend. It could form a cup and handle formation, but yet it's too early to say and pure speculation. Will update the chart at least every month.
Put the fun back into banking! Yours coinwide
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Edit:
FCTs absolute ATH was 0.00869200 --- but effective ATH was at 0.00839600
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Chart data from Poloniex.com
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FCT - are the candlestick patterns XMR - red line BTC/CNY - orange line
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I forgot to mention FCTs boom - it was the announcement that chinese firm Aucun will use Factom for it's notarization processes:
more Bulls got in after 488 dump and we saw a Bollinger Bands breakout to the 550er
timeframe till at least mid-October will be very fine :)
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this week we saw some heavy dumps but nevertheless I am long FCT;
if my chart assumption of an inverse FCT/XMR is right, we will see a good run up; FCTs inverse reaction is, as observed a bit slow, expecting next days a high to 525-535
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correction - will get to 528-550 area
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This was the final dump - BTC got up a bit within the channel (619-578 USD is mine); next step is a slow decrease to 600 level (likely with some small runups), a bit of sideways and then a quick BTC dump
My FCT Targets are:
1. 660 2. 750 3. ??? could outperform to 0.01 - 0.012 :)
Trade closed: stop reached
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omg, sorry wasn't online for a while and forgot to close
nice share, thanks! for novice ppl like me... when Sell when re-Buy?
sell at 0,0086 ?
coinwide
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Thx juniooor, a good entry point is in the 520-540er zone; even till the 600er you can gain a good profit.
After observing several Cup*n Handles I would expect it not to reach the effective ATH, but rather to reach 50-70% lower, which would equal to a sub 800er zone.
juniooor
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Thanks.
M2 could be released this week? where can go the price? 300% ? I read in reddit some people is waiting to sell at 0.01
coinwide
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as Factom audits take alsong they are conviced; the M2 release could take several weeks more; but as you can see in the chart we have an inverse trend to the XMR... just wait for further correction;
still i am remaining to my previous post that we nearly reach effective ATH - but who knows what FOMOs make ;)
juniooor
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I appreciate your time and answers, Im learning to look at charts, ask and so small tests.
coinwide
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here you get a better view of the possible upcoming
juniooor
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Omg! more than 140% , we just wait some more time. If I want to get an additional 10% profit, I sell at 0,012 and re buy , is it too risk? a coin always has a correction
sell at 0,0086 ?