POWR is an interesting project that has seen a lot of attention in the last weeks, hence the major pump. It is now overbought on the lower levels, but it has retraced between the 0.5 and .618 fibonacci levels. I think it probably goes down at least till the .618 level (bottom of green box), but this might be a possible bouncing area because more fibo levels are located here. I'm buying some in this box, and place my stop loss not far below it.
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POWR overshot my target area and retraced to the next fibonacci level. Nonetheless, it means that POWR has completed its ABC correction and is now preparing for its next major leg up. It already broke out from the downtrend and it looks like a trend continuation pattern is forming. Short-term target and long term target are in the chart.
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POWR is having quite some difficulties continuing its upward move. It is currently in a descending triangle, which more often than not breaks out downwards. There is still a possibility thath it will break out upwards, but I am moving my stoploss closer.
交易進行
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Broke out above the trendline, retraced and is using the trendline as support now. This normally is quite bullish, so I'm hoping POWR can pick up some steam and continue towards 0.000085.
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So that was a false breakout and luckily I moved my stoploss up (see red dotted line). Now I'm still in the green, while POWR might be at a bottom again to buy back in lower.
Agreed. 6k sat looks pretty good, assuming BTC doesn't continue skyrocketing. A healthy correction would be down to $.45 - $.47
heiders
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Indeed, as with almost all altcoins a lot depends on BTC. But the previous jump of POWR was also during the bull run of BTC, so some coins still stand out. We'll see!
Zexphero
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@jb71, technically it is at the 45 cent mark, bitcoin is what is keep the dollar value over 60 cents at this satoshi level.
if bitcoin drops then so will the dollar value of powr even if the satoshi level stays at 6900.
this mean that we are currently at the 45 cent level in comparison to where this coin was when it blew up.
its simple math my friends.
jb71
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@Zexphero, No... $.45 - $.47 is $.45 - $.47. BTC is about to hit 10k. When it does, I anticipate a crypto sell-off and BTC will drag alts down with it. I'm looking for 5600 sat on POWR along with 8,000 - 8,500 BTC. As I said, $.45 - $.47 POWR. It's all about the waves. Great project and I look forward to getting back in when the price is right.