Cryptocurrencies

Crypto Contest February 19: Factom

Factom (Poloniex: 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 August 13, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on December 6, 2018, and the red wave two (blue sub-waves a-b-c) correction ended on January 28 this year. If this wave count is correct, Factom should be heading next towards the December 6, 2018 peak in the red wave three.

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

Zooming out in the monthly chart, I believe Factom is currently in the red wave three. The red wave three began on August 13, 2018.

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

Funnymentals

Factom is an open-source blockchain developed by a consortium of companies to be the world’s data integrity protocol. BlockWolf reviewed the coin back in November 2018.

(Sources: Factom 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 December 2018 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 August 2018 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 August 2018 low and the December 2018 peak until March 26”.

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

You can upvote the comment until 3 PM EST February 22 and you can upvote only one comment. 50% of liquid STEEM + 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 1

I will be sending one Trophy Token (@trophy-token) or one Steem Monsters (@steemmonsters) card 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.

Bonus 2

Upvote the right comment and the main post with at least $0.10 and you will get 3 x the winning prize.

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