Short Term Trade: Factom Mountain Man

BITTREX:FCTBTC   Factom / Bitcoin
Factom just dipped to the 61.8% Fibonacci Retracement level on the local high. Good opportunity to get in cheap and hold until time is ripe to trade back in for BTC .
Trade active: After getting in on the bid below 61.8%, I realized that the market cap of this coin is <$25 million and therefore below the threshold I usually set for trading Altcoins. Less volume equals more random movements that don't follow the usual technical signals. I'll see how it goes before exiting this trade.
Trade closed manually: Went back up to 38.2% within an hour so it performed as it should have given the technical signals. Not enough volume on this coin to justify staying in. Will book profits.


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