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 May 7, and the wave four correction ended on May 9. If this wave count is correct, Factom should be heading next towards the May 7 peak in the wave five.
(Chart courtesy of Tradingview.com)
Looking at the weekly chart, I believe Factom is currently in the wave three (sub-wave iii).
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Factom will takeout the May 7 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 May 7 peak until June 10".
You can upvote the comment until 3 PM EST May 16 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.