POWRBTC trade ideas
POWR looking for a breakoutOn the long term we are looking at the black longterm bullish pennant.
We slighlty crossed it and created a new darkblue triangle, which we have crossed recently too.
Currently we are in the moon-blue triangle and the breakout could happen soon.
Furthermore we have a strong orange supportline.
Overall we are aiming for a conservative target nearby 9000 sat.
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.