Hi guys! Over the next few weeks we are going to be looking more in-depth at using harmonic patterns
across different alt-coins against bitcoin
. After carrying out research we found that harmonic patterns
can be very powerful and consistent in this developing market. In this example I am looking at Factom against Bitcoin
. Price is at the lower end of the market cycle and at a key level of support. This trade will be executed just like any other, with a TP1 level at 38.2% and TP2 at 61.8%.
I have also thrown in some bullish divergence
for those who have mentioned they like the second opinion before taking an entry to a pattern.
C: 0.382 - 0.886
D: 1.272 - 1.618