Crypto Contest February 24: Factom

in factom •  7 years ago  (edited)

Factom (FCTUSD) has broken out of the triangle pattern in the daily chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, Factom began a wave one advance on November 2, 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 7 this year, and the red wave two (blue sub-waves a-b-c) correction ended on February 6. If this wave count is correct, Factom should be heading next towards the January 7 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))

In the weekly chart, Factom is most likely in the red wave five (blue sub-wave iii). The red wave five began on November 2, 2017.

(Chart courtesy of Tradingview.com (log scale))

Looking at the monthly chart, I believe Factom is currently in the red wave three (blue sub-wave v). The blue sub-wave five began on November 2, 2017.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

Factom is a system for securing millions of realtime records using blockchain technology. Here is the official introduction video.

(Sources: https://www.factom.com/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Factom will takeout the January 7 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Factom will drop below the November 2, 2017 low".

If you think Factom is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Factom will stay in a trading range between the November 2, 2017 low and the January 7 peak until March 27".

You can upvote the comment until 3 PM EST February 27 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).

Bonus

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  ·  7 years ago (edited)

Factom will stay in a trading range between the November 2, 2017 low and the January 7 peak until March 27 (39 voters as of 3 PM EST February 27: helikopterben, bleujay, bentleycapital, me-tarzan, gregory-f, glennolua, heroic15397, simonjay, misalen, jznsamuel, sanjay91422, steemit.nemesis, lucasgabd, komischername, ahinga, mgood, themovieplace, toofasteddie, starline, me-do, catchup, catena, diogosantos, cassidyandfranks, cmoljoe, qmarpot, richard78624, mark.feuerborn, koskl, mihail.tsvetkov, andy23, paul.atreides, costanza, yefet, akandadelwar, maverick0524, borban, utkarshvarma, tzap90).

You won.

  ·  7 years ago (edited)

Factom will takeout the January 7 peak (24 voters as of 3 PM EST February 27: steemquestions, fitinfun, allyouneedtoknow, lydon.sipe, eirik, dirty.hera, reconnectnature, bxlphabet, cathi-xx, cryptotem, lasper, carlosdaniel, mirda, coolthings, jozef230, kunschj, barbadosso, neo-wiza, libert, cosminblaga, criptorafa, nordina, sportschallenge, acehnature).

Factom will takeout the January 7 peak

  ·  7 years ago (edited)

Factom will drop below the November 2, 2017 low (12 voters as of 3 PM EST February 27: sqlinsix, freiheit50, anetchen, dlina-v-metrah, crokkon, gunsmithing, skepticology, misschipmunkdiva, ragnaros, portillo, photo-moment, beiker).

I think this is a easy prediction, based on the current price, I don´t see Factom losing more than 50% of its value in the next month, nad considering the 200 MA and the evolution of BTC price I´m not expecting for FCT to take out the Jan 7 peak.

I really trust that Factom will takeout the peak from January.

I really hope it will stay in a trading range between the November 2, 2017 low and the January 7 peak

Let's see. Thanks for resteeming.

Great post thanks for sharing :)

Thank you misschipmunkdiva.

really new post, I just know about factom, more detail after reading your post, thank you already share, after I read your post my knowledge progressively increase about factom, good luck always @maarnio