Factom VS Bitcoin Breaking Above
Updated
Factom continues to rejected the uptrend trendline and today FCT/BTC finally broke and closed above the downtrend trendline which suggests the beginning of a correctional wave up or a trend reversal.
The upside move could be either strong a weak depending how price will react on the fist strong resistance at BTC 0.0038. If it will be broken with confidence the next wave up should result in a growth towards BTC 0.0055 are, which is the key resistance.
Although it is unlikely for the Factom to continue the downtrend, the worst case scenario could be the move down towards BTC 0.0025 support.
The upside move could be either strong a weak depending how price will react on the fist strong resistance at BTC 0.0038. If it will be broken with confidence the next wave up should result in a growth towards BTC 0.0055 are, which is the key resistance.
Although it is unlikely for the Factom to continue the downtrend, the worst case scenario could be the move down towards BTC 0.0025 support.
Note
First resistance reached and rejected, wait for the breakout
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