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POWRBTC

POWRBTC - watch out for the BREAK OUT!Although its very tough to predict from chart when the data is barely few days older and you dont have much of a history. However, POWR is presenting an interesting structure with more potential on the upside and limited downside. POWR has been resting at the same level against BTC for almost 5 days now, thats generally a sign of next big move on either side. Our job is to best guess, which side that would be! The triangle with a pretty firm support is a good level to buy for aggressive traders (current level is almost the support level). However, conservative traders can wait for the clear breakout candle (with above average volume) above triangle resistance line. Fib Extensions are the targets in this trade, I expect a lot of mini trades within this structure in days to come. Treat green line as an ultimate stoploss, below that on closing basis, I see the pair falling towards 2800 level. Happy trading :)
Long
by a.rafay
1
POWR - Approaching Critical TrendlinePOWR appears to be approaching a key resistance of its general downward trend. Two scenarios I'm looking at are a possible breakout to the 0.5 Fib level (0.00007321), which could represent an end to the downtrend, or a rejection that retraces at least to the current key support (~0.00006), in keeping with the current trend. If POWR breaks bearish, there's a possibility that it retraces as far as the 0.236 Fib level (~0.00005). Sideways consolidation is possible if we haven't yet hit the upper resistance of the downward channel, but I find that unlikely given our 4 Hour MACD. I don't think such a tight range is sustainable, and I believe that our next major move will be bearish, towards the 0.236 Fib. DYOR, TNFA, etc. but I'm setting my buy orders between 0.00005000 and 0.00005640, with my targets around the 0.5 Fib level. The Crypto Lark (www.youtube.com) is hosting an interview with Power Ledger Managing Director David Martin this week, on the FA side of things. Cheers!
by fittsjk
7
POWR 1H Chart 2 December 2017And here we have another one, which I've been posting about lately a lot, and suddenly a lot of times wrong as well. Well, that's the game isn't it? You win some, you lose some. You need to get the highest success rate possibly to be successful and you need to keep improving, which I've been doing lately. We've two possible scenario's on POWR and this is quite likely. POWR just had a giant 12345 Elliott Wave in upwards movement. After that POWR did correct through an ABC correction all the way down to the .236 fib level (if you place fibonacci on the ATH and ATL). It bounced and seems to be in an upmove from now. It touched the 0.5 level resistance, landing on the 0.382 and looking upwards now. I'll be following this chart the coming days to see how it plays out. It still might be possible that we are jumping to 8.5K sats soon and afterwards we'll be retracing down to 0, which is highly unlikely due to the bullishness around this coin. Also, POWR is in a falling wedge right now, which is a bullish signal. This might induce the leg up from here.
by CryptoMichNL
2