Factom VS Bitcoin Still An Uptrend

Factom is clearly trending upwards although currently, it has entered the stage of a short to medium term consolidation. Since 1st of January, FCT/BTC continue to range between btc 0.005 and 0.0035. At the same time price broke above the downtrend trendline and for the second time it returned to the point of breakout, that is btc 0.004.

Today Factom rejected the 200 Moving Average and the 2/1 Gann Fan trendline. This could suggest the uptrend continuation from this point onwards, nevertheless, consolidation could extend a little further.

The upside target is seen at 127.2% Fibonacci retracement that is btc 0.006, this price level should act as a key resistance showing further intentions of the Factom.



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