Factom - Support Levels To Watch
Factom seems to start reversing to the upside against the Bitcoin as price clearly broke above the previous high at btc 0.0033 resistance. FCT/BTC went up to btc 0.0057, but then corrected back to btc 0.0024 which is actually the crossing price of the two 8/1 Gann Fan trendlines.
Prior to that Factom tested the 200 Moving Average, which has been rejected on the 16th of December. Then price produced the spike lower, but it failed to close below btc 0.0031 support.
While the price could be reversing in the very near future watch out for the Fibonacci support breakouts. But only break and close below 88.6% retracement level, that is btc 0.0015, could reverse the trend to the downside.
Prior to that Factom tested the 200 Moving Average, which has been rejected on the 16th of December. Then price produced the spike lower, but it failed to close below btc 0.0031 support.
While the price could be reversing in the very near future watch out for the Fibonacci support breakouts. But only break and close below 88.6% retracement level, that is btc 0.0015, could reverse the trend to the downside.
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