Crypto Contest February 24: Factom
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
I will be sending one Trophy Token to everyone who manages to get these crypto contests right seven times in a row. If/when you accomplish this, please contact me at Steemit Chat with your BitShares address.
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.
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
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