Crypto Contest August 7: Factom

Factom has broken out of the triangle pattern in the four-hour chart.

(Chart courtesy of Tradingview.com)

In Elliott Wave terms, Factom began a wave one advance on December 6, 2016. The wave one finished on December 20, 2016, and the wave two correction ended on March 10 this year. The wave three advance finished on June 20, and the wave four correction ended on July 11. If this wave count is correct, Factom should be heading next towards the June 20 peak in the wave five.

(Chart courtesy of Tradingview.com)

If you think this analysis is correct, upvote this post and upvote the comment "Factom will takeout the June 20 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "Factom will drop below the March 10 low".

If you think Factom is in a range, upvote this post and upvote the comment "Factom will stay in a trading range between the March 10 low and the June 20 peak until September 7".

You can upvote the comment until 3 PM EST August 8 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). Only participants with a Reputation of 35 or more will qualify in the contest.