Factom vs Bitcoin Bullish Divergence

Factom found the support at BTC 0.0015 after which it broke above the downtrend trendline. The breakout was accompanied by the bullish divergence on the MACD indicator suggests that the trend could be reversing to the upside. On the 4h timeframe, FCT/BTC also broke above the 200 Moving Average adding extra confirmation to the potential trend reversal.

While Factom is trading above BTC 0.0015 it remains quite likely that price will go higher. First upside target is at BTC 0.006 which is 61.8% Fibonacci retracement. It also corresponds to the 327.2% Fibs applied to the corrective wave after the downtrend trendline breakout.

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