POWR consolidation and ranging for now

Here is my idea about POWR for the next 2 weeks or so. RSI and MACD support the up trend but we have quite a journey till we can say is a bullish trend. It needs to break one by one each of the down trend resistance I drown so I expect the coin to go in a ranging trend (not my favorite) but that how I see it. After it breaks off around 4500 we can say is a bullish trend and look for upper targets.
The other scenario would be that it fails to break the resistance and investors loose their interest and get weaker or BTC shakes again which would send the price even lower then 2600. 2600 is a good long term acquisition if you ask me but it could go lower.

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Update: there is a huge resistance cloud ahead, without volume is not going to break through. All signs are bearish for now. There is hope from MACD but is not going to help without volume. Since the coin is not hyped right now the price will stick around 3000 - 3500 range maybe even lower. Again 2500 is going to be a good buy so if it goes back to that level I'm going to buy more. Keep watching...

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Update: This could be a good news, POWR just broke the down trend resistance again but is heading through a huge resistance cloud and once it arrives up will encounter another huge resistance which is around 4500 which could turn the excitement into disappointment. Nothing is impossible so let's be positive about this new move and look forward to see it through.

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Update: Possible BTC head and solders, allcoins all will bleed again.

Trade closed: target reached

Update: We broke the 4500 resistance so is definitely in an up trending and starting a new cycle. I will create a new thread with a new idea I have.

pgarret

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pgarret

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