Crypto Contest November 19: Factom

Factom is breaking out of the four-hour wedge pattern.

(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe Factom is beginning a new impulsive move to the upside. The previous five wave impulsive move started on the June 17, and finished on the August 29. The three wave correction ended on the October 29. If this wave count is correct, Factom should be heading next towards the August 29 peak.

(Chart courtesy of Tradingview.com)
In the weekly chart, Factom is currently most likely in the wave three (sub-wave iii). The wave one started in the December 2015, and ended in the March 2016. The wave two correction finished on the June 17.

(Chart courtesy of Tradingview.com)
Disclosure: I am/we are long Factom.

If you think this analysis is correct, upvote this post and upvote the comment "Factom will takeout the September 13 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Factom will drop below the October 29 low".
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