SkyRock Signals

​​#Analysis

#FCT

FCTBTC Cup&Handle will help to breakout from Descending wedge

Factom is in the Descending wedge and can breakout of it upper edge in the near future. The current price range looks like a solid support, which in the past has been a good reflection of the market decline and has become a turning area for building the recent wave of growth. At this moment, indicators and trend analysis of the 1-hour timeframe chart suggest that Cup&Handle which is supported by Ichimoku clouds will help to break out of the descending wedge which can be seen on the 1-day timeframe chart. This will start a new wave of growth If the price drops below 0.00088, then the development of a positive scenario for this asset may take much longer time and you should follow our updates.