FACTOM LONG TRADE Chart is self explanatory I think. Accumulation zone is mentioned along with Stop Loss and TP Price Points.
The price should make an upward run in the nearest future, if we consider the recent movement patterns. Not a trading advice, though)
FCT declined by 4.36%, touching levels below $10. Somehow, it seems FCT is looking upward for the $11 goal. According to some analysts it could reach $26. For a month, coin went up 16.34% from $8.6 for coin. For 100 days FCT is up 121.84% from $4.51. FCT traded above $16 not long ago and that might be a realistic level to get back to.
Possible medium term channel forming with a target at the upper limit around .0075-.009 btc, high risk long at this level, channel needs one more test to confirm
After a bullish movement which brought price to near $20, now a swift is taking the price trading below $10. $10 support was broken and now the price is meeting resistance at $10. It might have found some stability for now trading around 10$.
The bullish moth for FACTOM came to an end with it's price sinking more than 15% in the last hours. A sell-off ended an amazing outperformance and halted the further possible price growth. The most likely movement from now on is further down.
The significant outperformance seen recently, which ended in 300% up, is now reversing. A possible drop below $11.80 would lead to another lower low and to a more bearish outlook. Traders are selling their holdings to record profit from the months movements, this can be followed by even further decreases and selling.
Okay, so today about another interesting altcoin - Factom (FCT). Here, the positive news mostly. It continues to be one of the most prosperous altcoins during the past weeks. Seems to go through a growth spurt unaffected by the Bitcoin bear market. FCT price, recovering from the recent downs, has now got boosted from the announced partnership with online video...
Chart is self explanatory. My last 2 trades was closed with little losses, So if this one works we are good.
Let's assume the channel holds and the timing and wave lengths, and percentage gains are equal to the previous impulse waves on the last bull run; we have ~250$ factoids in February 2019 and ~2300$ factoids in May 2019. This chart is just for fun and carries many assumptions, although I believe it to be within the realm of possibility, this is not a prediction.
If the channel passes the next test a jump to .005-.006 range likely, strong support/resistance historically around .0042
Chart is self explanatory. H&S and butterfly on MACD
Factom has exceeded even the bravest of expectations this month. I have previously mentioned that it was in a very oversold territory and that it was natural to retrace back up but boy, was that a run! Honestly, I am pretty down at the moment on this trade as I have gotten into a short at the 190k level previously looking at the TD 9 - 1D chart: Glad I could...
As charted, FCT could perform bearish Cypher. Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
A bearish diamond formation incoming. We should watch for the ascending trend line to be broken to see that diamond has come. Otherwise, I am still bullish.