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Power Ledger / Bitcoin

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POWRBTC trade ideas

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 is FutureI think PowerLedger is significantly undervalued so I bought a whole lot around .000053 and .00006 and, with all the attention crypto is getting, most of the the profits I'm taking from other investments I've made are going straight into POWR. Small cap stuff can be confusing to practice technical analysis on so I'm just watching the moving averages on this one. Blue means above MA, red means below. Fundamentally, POWR is an incredible project and one of the very few crypto projects with tangible and ongoing real-world applications. Their team is also outstanding, well connected, and highly motivated to continue to make progress on what is already an impressive road map. Using blockchain technology to enable a peer-to-peer electricity marketplace isn't just brilliant, it's so practical that adoption will be inevitable. The signs were all there months ago: www.cryptocoinsnews.com THIS IS NOT INVESTMENT ADVICE but you should get in while its cheap
Long
by Razgreez
5