FCT/BTC Long Idea

Looking to enter a position into Factom once the price drops down to major support. The last 3 pumps have used this line to bounce off of, which lines up well with the 0.786 Fib level on each of the spikes. I will enter my first position once the price drops down to that support level (Entry Point B). The second entry will be once the price then crosses Entry Point A bottom-up. I will be looking for profits in the correlated exit points (Exit point B = sell position bought into on entry point B).

Price looks like it's in a potential bearish rectangle at the moment which is why I'm expecting it to drop further than what it is. Historically Factom has also taken some time to consolidate before pumping so I'm expecting that to play out again. Stop/Loss for point B will be set depending on entry price

Note

Has created a H&S so expecting to see price decline, will wait until reversal to enter on the support line

Note

Starting to see price plateau on 1H and 4H charts so potentially going to see a reversal

Note

Price is heading nicely toward entry zone B, look for it to hit support and confirm a bounce before entering

Note

Price is approaching zone A on the way up. Look for it to break the 0.786 Fib level before entry

Note

Price broke before immediately heading back down. Will wait for next close to evaluate a buy order

Note

Price on 1H stated to break bullish uptrend channel. Buy order placed. Looking to sell at around 250%

Note

Been really moving well in the 1H uptrend channel

blakeren

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

blakeren

Also on: