alanmasters
Long

Factom Breaks Falling Wedge, Target Mapped

BITTREX:FCTBTC   Factom / Bitcoin
All the signals necessary for a bullish wave to form are now visible on the FCTBTC chart... Let's take a quick look at those:

Fanctom (FCTBTC) Chart Signals
  • First, we have a strong green candle to break out of a falling wedge . This signal only confirms when the daily candle closes.
  • Trading volume starting to increase (still low but the day is just getting started).
  • Prices trading above EMA10 and EMA50.
  • MACD bullish crossover + hidden bullish divergence .
  • Strong RSI .
  • Low volume on the drop .
  • Higher low printed as well.

These are many signals that support the bull's perspective... We can expect for Factom (FCTBTC) to continue to grow.

Thanks for reading.

Namaste.
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Comments

fct bankrupt. cheeck reddit
Reply
TreyStar AlekseiMurikov
@AlekseiMurikov, thats just a fake out disinformation designed to get people to sell. Factom made headlines last month from a CoinDesk article stating Factom Inc. is dissolving for the benefit of creditors. We want to address this article as there were several errors we hope to set straight…

The Factom Foundation launched in 2015 to build the Factom blockchain. It completed the blockchain in September 2015 and then set out to fully decentralize the network. It accomplished this in May 2018 with 27 Authority Node Operators (ANOs) who validated the blockchain. The ANOs are the entities that govern, verify new blocks, and develop applications on the blockchain.

Factom Inc. is a for-profit ANO that’s building proprietary software on top of the Factom blockchain. Stated differently, Factom Inc. is not the same as the Factom Foundation or the blockchain. It represents one ANO on the network.

The second part of this article stated Factom Inc.’s assets have not gone into receivership. This is incorrect reporting. However, it’s important to note Factom has a note with the company FastForward, which contains dissolution terms. FastForward does plan to take such action before shareholders. Jay Smith, COO of Factom Inc., does not expect the motion to be approved.

Bottom line: If Factom Inc. were to be liquidated, the Factom protocol will continue to operate as before. In fact, while this has gone on, the stablecoin platform where FCT acts as the underlying value, PegNet, crossed the $1 billion in total amount of conversions to the network.

PegNet, along with other development companies building on top of Factom, make FCT a great buy today.
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