Factom is just trying to break the trend line drawn from the September 12 peak.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe Factom has completed one cycle from the June low. The five wave advance started on June 17, and finished on August 29. The abc correction ended on October 1.
(Chart courtesy of Tradingview.com)
Zooming out in the daily chart, Factom is most likely in the wave three (sub-wave three). The wave one started in December 2015, and finished in March 2016. The wave two correction ended in June. If this wave count is correct, we should be heading towards the August peak next.
(Chart courtesy of Tradingview.com)
Disclosure: I am/we are long Factom.
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