Shwayze
Long

FCTBTC fibonacci retracement and extension

POLONIEX:FCTBTC   Factom / Bitcoin
It seems overall we have had a reversal upwards. Price bottomed and strong volume indicated a reversal. Price bounced off 61.8% fibonacci retracement level and is now retracing upwards. A good buy opportunity here, if this plays out. UNLESS, The highest point recently is anther reversal or pivot point , the volume was huge and price had continued its downward pace there. Either way, this will be a good way to get out of this trade.

Profit target would be 88%, 100% and just in case someone gets greedy, 127%.

If price fails to reach above next resistance level , trend may be reversed downwards back to bottom, potentiall farther.

Just an idea.
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