Power Ledger Possible break-out Scenario
POWR is showing a textbook falling wedge patter. We can see the upper and lower limit produce lower highs and lows; while the MACD is showing stronger accumulation since 1/17/18.
This combination of rising MACD and a condensing falling wedge has me feeling short term skeptical maybe even a little bearish as I look for it to fall it the 3000 area. But with there being strong evidence of support at 3000 in Decembe rof last year I'm looking for the low to be about .00003150.
From that low, IF we break out of the wedge and the MACD continues to rise, I'd expect to test the .382 and maybe even the .618 retracement levels. In this market its about outperforming BTC and I'm betting on the intermediate upside of POWR as BTC looks to stabilize. I am BULLISH on the future of POWR
Not advice - DYOR - Happy Vernal Equinox Day
Hoping Spring brings life back to our precious market.
*Delgado*
This combination of rising MACD and a condensing falling wedge has me feeling short term skeptical maybe even a little bearish as I look for it to fall it the 3000 area. But with there being strong evidence of support at 3000 in Decembe rof last year I'm looking for the low to be about .00003150.
From that low, IF we break out of the wedge and the MACD continues to rise, I'd expect to test the .382 and maybe even the .618 retracement levels. In this market its about outperforming BTC and I'm betting on the intermediate upside of POWR as BTC looks to stabilize. I am BULLISH on the future of POWR
Not advice - DYOR - Happy Vernal Equinox Day
Hoping Spring brings life back to our precious market.
*Delgado*
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.