FACTOM - Symmetrical triangle breakout likely today

18 Ara 2018

So, we're about to hit a decision point on FCT. I would say we're more likely to break down than break up - two things going on. There's a larger H&S pattern that's playing out so far very well for FCT, which is visible on the 4 hour. Now we've got declining volume and a symmetrical triangle playing out. Also, we are in a larger bear market for cryptos (still) and FCT has already had a huge runup.

On the other hand, FCT itself has been in a serious bull trend for the last few weeks now, and symmetrical triangles tend to break upwards 70% of the time. However, this is crypto.

Don't trade until you see the breakout. Targets for shorting in red, targets for longing in green.

18 Ara 2018

İşlem aktif

Breakout, down as expected. However, we're still a good distance from the downside target, and theres no volume.

Could be a fakeout, we'll see.

20 Ara 2018

İşlem elle kapatılmış

Trade invalidated. This looks more like a descending wedge.