$POWR : The australian crypto company.
Updated
POWR/BTC is putting in a nice cup & handle structure here with a possible bounce off the 0.5 fib.
Maybe coincidence but the measured move of the cup and handle is the 1.618 extension also.
As long as we can continue to hold this nice uptrend thats developed on the 4HR and BTC does not do anything to crazy this could breakout.
Beware of a liquidity grab/shakeout at 890 or so. If we hold this level then im bullish on this short term, stops from the current uptrend will be located there.
But if we close under 890 then i expect it to dump off a bit, but as long as we hold this structure of the possible symettrical triangle i am bullish on POWR, invalidation is if we close under that support its around 7400 or so.
Maybe coincidence but the measured move of the cup and handle is the 1.618 extension also.
As long as we can continue to hold this nice uptrend thats developed on the 4HR and BTC does not do anything to crazy this could breakout.
Beware of a liquidity grab/shakeout at 890 or so. If we hold this level then im bullish on this short term, stops from the current uptrend will be located there.
But if we close under 890 then i expect it to dump off a bit, but as long as we hold this structure of the possible symettrical triangle i am bullish on POWR, invalidation is if we close under that support its around 7400 or so.
Note
POWR Needs to put in a bottom here, The yellow line is most likely where alot of stops are, and we broken that down then reversed with a small SFP..If this doesnt happen we are probably going to test the "possible triangle structure" at the bottom of the chart.
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