I'm following TCT since quite some time and it seems to me that it might be ready to start a new run up. On the Daily chart we can see that it retraced a lot from earlier pump and found a bottom where it bounced nicely in the past days. Price already went up to the trendchannel but bounced off. The following correction reached my fibo box and is a sign for me it will go up again. Following path is to be considered:
First a break out of this corrective pattern (blue line on right chart). Upmove to the yellow trendline where it will consolidate. Depending on the pattern formed by then, we can determine the next steps. Either it will make a Trend Reversal Pattern and might do one more leg down before breakout, or it will make a Trend Continuation Pattern around the trendline and breakout afterwards. An early breakout looks more likely to me.
All we need now is a bouncing BTC. Lets see!
I will update once we come closer to the yellow trendline. Questions about targets: too early to determine, but this will be a longer term hold for me (so good target)
Great charts, learning from your strategy - 'wait for confirmation' is the most challenging :-) - Thanks for your sharing.
I am confused a bit as your not a fundamental trader - what determines for FCT that you already know this is a long term holder?
Crypto_Ed
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@Bart66, charts are telling you enough. News, upcoming news, fundamentals....its all in the charts (wave patterns). But I have to admit that I read an interesting research about FCT
marvirafae
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i'm looking for a long entry on factom. will be following the updates man