Factom next push up?After a bearish divergence, i think its the perfect time to pick up some more FCT. Its slowly turning bullish and i expect a big move this week. Good luck!
FCTBTC
$FCT - Long Entry 62/38 EMA crossed. Looking at uptrend on 1HR chart. Entry @ 91 and 95. Looking for a test of 100 and and push above SMA200. Target .0128-.0133.
FCT/BTC Possible ScenarioFor the time being following previous FCT patterns, and following the previous growing half of FCT patterns i deducted the way it could reacted in it's descending phase (i believe it is in a descending phase).
Just follow the red pattern to give you an idea of what to expect more or less
long for about 6 days Red line going up the side is just a prediction of where its going. Not a support or resistance.
FCT Long.Long entry position at fib rupture of 61 and exit at 100% fib stop at the previous top.
Donation-Btc.
18h438ddjYG2vBcBjEBJ5jirALJrewD22h
Factom breakout to test ATHFactom just broke out of a bullish pennant, flagpole indicates a test of the ATH. May break through if volume is there.
Long Analysis | Demand increase for FCT Factom. Target upto 8x. Cyan lines are targets, they are 2x, 3x, 4x and 8x.
I aim to take 10% profit at every price double.
If you trade breakouts and tests, buying in at A will cover you with stop below support.
I take profit at A2 for 10% , 40% at B (20% above and below) and 50% at C with trailing stop to cover at B.
I've added to additional pieces of analysis for multiple time-frames.
Analysis
Price action broke above structure and returned to test the breakout, with price closing above the structure of the triangle and on horizontal support of 0.00456021. Due to increasing demand, mostly shown by the increase of bitcoin and stagnation of price, which creates this structure of support above the break, it can be assumed that there's a high likelihood of a continuation in trend.
Looking at the closer term, daily time-frame, the structure of long term support becomes more apparent. It's also clear to see price action support outside of the triangle, testing both breakout of pattern and price action. Patterns have higher chances of success if horizontal support and pattern support coexist.
The 4hr time-frame, over the period of 50 days, shows clear accumulation/distribution. This is evident from horizontal long term supports and price action. The black line is the BTCUSD price, it's used as an indicator to whether price is moving with or against Bitcoin. Until recently Factom moved opposite to Bitcoin in regards to a pump, FCT would always fall against BTC; when FCT moves with BTC, while at a key pattern/price action support levels, this can increase the chance of success.
Factom showing potential entry pointFactom really is gearing up on this season... This time we should break up clearly from the 0.007 price and then we should moon hard.
FCT - Welcome to the Future of Data StorageFactom, the giant decentralised and immutable database is about to pump. Protected from manipulation and ignoring interpretation, it will be a big player in the crypto world for many years to come.
Data storage, record keeping and big data are important parts of the future.
Entry: 0.0054 - 0.0063.
TP1: 0.0087.
TP2: 0.014.
TP3: 0.0225.
Stop-loss: 0.0052.
Risk/Reward: 2.59:1.
Please like and follow if you agree with this idea.
Good luck!
Disclaimer: As usual, this is not a perfect prediction. Don't put all of your money into it. If you don't know how much to put, you can learn how to hedge properly by using common sense and a search engine. I will be posting some updates as I have been doing in my previous posts, but if you want live updates, check out my signature and join my Telegram Group.
