Factom is in the critical zone where decision of the trend might be shown. On the Ichimoku Analysis, we are getting closer and closer to the cloud, which if pierced could send us right back with btc gain level. Factom could also slow down bellow the cloud and move back to 500k area.
As for short term candle pattern, We are currently bulding the inversed H&S 'Head', with the help of a bullish flag bulding up. This is very bullish and might be the kick needed to cross to the cloud and catch back the BTCUSD(RED line) value that laged behind.
Support is tested and resistance is strong, closely monitor volume if you want to catch the breakout.
I'm Neutral ATM and I will update the charts when new confirmation signal appears.
Cheers, good luck and safe trading!
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As bitcoin adoption mature, This kind of article explain the length of factom's potentional
"While current development has focused on securing data to the Bitcoin chain, we are confident that Factom will be used not only to secure data onto many chains, but also to secure data from entire blockchains onto one another. This cross-anchoring will help ensure the security of the entire network of blockchains that will exist in the future."
Notice the ALMA Candle turning blue.The color of the next candle has been a strong trend signal for FCT in the past.
Factom having some news rolling just in decision time is basicaly rocket fuel.
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Huge market consoldation just shot FCT an arrow in the knee. FCT as always is painting charts and touch triggers everywhere. It just bounced on the cloud lower frame and broke that yellow support line. If the consolidation panic is over, FCT should resume its uptrend from here.
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Look for V-Shaped Candle if you are looking to reduce your entry risk.
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Here is our Vshape!!
Now looking for the making of a bullflag and fully resume the uptrend.
We need someone to buy that 64 wall so the bot can further pump,I watched all the night bots movement and only like this we can go up,supporting.
PaulBBAG
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Hello,whats your opinion right now?There is 170 btc support at 60,volume was increasing for few good hours but now droping,we will ever see a run again to 0.0146 like the last time?
omgosaurus
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@PaulBBAG, I would not expect such a big climb from FCT atm. But if does break 750-800k, We might go all the way to 1000k. You can monitor as we cross the Ichimoku cloud; A candle piercing it, and the next sitting its low on the frame might signal a continuation of the bullish trend.