Long

Factom up high or just a flash in the pan?

Updated

Sitting on strong support. If we break the downtrend line with big volume, get ready for lift off. Bullish divergences on RSI and MACD. Simple and easy, targets in yellow based on fibs and market structure. Stop below the recent lows.

And hell fucking yeah, bittrex charts on trading view. Awesome :)

Trade active

Entered already, quite early. But the convergences were convincing. Make sure to blast this when you take profits: youtube.com/watch?v=cFT30ClRBdg or curse when you take a loss.

Note

Just a comment on the entry, I entered just like it is drawn on the chart. I admit, thats very early. But that's what fits my mind: I like to be in early and increase the upside potential, that comes unfortunately with a higher probability of being wrong. So decide for yourself. Remember, price usually retests a breakout level, your chance to hop on the train.

Note

I think I overlooked the fact that FCT is within a descending triangle. Which in itself has a bearish tone. However, I am still bullish long-term. Bullish divergences on MACD and RSI prevail. Zooming out to daily chart, we find the 200 SMA as a huge support zone right beneath our feet.

ntron

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.