Crypto Update: Factom (FCT) Forms a Bullish Pennant Pattern

We saw a quick upward movement of FCT chart on Monday Aug 08 2016 which lasted for 3 days and stalled for more than a week giving us a hint that a pennant pattern is forming. It stayed there for a week now ranging at 0.0035- 0.0041. A confirmation of the trend has shown up just a while back which gives us a good reason to jump in.

The height of the pole went as far as 0.001605 and this will serve as a good target for the continuation trend at 0.0058 mark.

"A Flag and Pennants are very common trade patterns and reliable short term congestion patterns formed between trends and among those considered to be strong continuation pattern. Flag/pennant gives the traders a very good opportunity buy in the trending market as they represent very short pauses in trends."
http://tutorials.topstockresearch.com/ChartPatterns/FlagPennant/TutorialOnFlagAndPennant.html

Market Depth is also showing a bullish trend as we see a good buy support. FCT is up by 8% for the past 24hours.

I advise traders to keep watch at FCT Chart and may consider buying in as of this moment. There's a lot of noise on it at the Throll box. Enjoy Trading Guys

Factom News; https://news.bitcoin.com/dhs-awards-200k-factom/
https://bitcoinmagazine.com/articles/department-of-homeland-security-awards-blockchain-tech-development-grants-for-identity-management-and-privacy-protection-1471551442

https://m.reddit.com/r/factom/comments/2ocb6y/watch_paul_snow_on_hangouts_for_the_latest_factom/

Note: This is my personal analysis base from my trade experience and i'm not responsible for any loss you get basing from this analysis.