Crypto Contest November 19: Factom

Factom (Poloniex: FCTBTC) has broken out of the triangle pattern in the weekly chart.

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

Elliott Wave Analysis

In Elliott Wave terms, Factom began a wave one advance in December 2015. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in March 2016, and the red wave two (blue sub-waves a-b-c) correction ended in August this year. If this wave count is correct, Factom should be heading next towards the March 2016 peak in the red wave three.

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

Funnymentals

Factom is a next generation platform for creating enterprise tools and applications using Blockchain technology. Crypto Investing reviewed the coin last month.

(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 April 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 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 low and the April peak until December 24".

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

You can upvote the comment until 3 PM EST November 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

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Bonus 2

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