POWR/BTC - Reverse head & shoulders + Symmetrical triangle
POWR/BTC is looking extremely bullish in my opinion in the 4h chart.
The reason why I say this are the following:
1) The price has formed a reverse head and shoulders (since the end of November, shown in yellow), with the neckline at around 7500 satoshi, which is currently being tested).
2) There is a symmetrical triangle (shown in the chart) which appears to have been broken upwards.
3) The MACD is turning bullish (positive).
4) The CCI shows a strong move by exceeding 200 (which it already did a few days ago), and a weak retracement inside the -100 +100 bands.
I have set a limit buy order at around 7200 satoshi (which is the 50% Fib. retracement measured from the ATH and the ATL).
I also have set a stop limit order 8350, which is just above the previous local high of Dec. 21.
My first target is 11700, and my second target is at 17400 satoshi.
I fundamentally love the idea of trading electricity with peers behind Power Ledger, in a world that is evolving towards the use of renewable energy. For this reason, it is one of my long term investments:
I will keep most of my POWR for the long run, but I'll sell parts of my stack in the run ups and buy the dips.
This is not financial advice, this is just my opinion. Any comment is appreciated.
The reason why I say this are the following:
1) The price has formed a reverse head and shoulders (since the end of November, shown in yellow), with the neckline at around 7500 satoshi, which is currently being tested).
2) There is a symmetrical triangle (shown in the chart) which appears to have been broken upwards.
3) The MACD is turning bullish (positive).
4) The CCI shows a strong move by exceeding 200 (which it already did a few days ago), and a weak retracement inside the -100 +100 bands.
I have set a limit buy order at around 7200 satoshi (which is the 50% Fib. retracement measured from the ATH and the ATL).
I also have set a stop limit order 8350, which is just above the previous local high of Dec. 21.
My first target is 11700, and my second target is at 17400 satoshi.
I fundamentally love the idea of trading electricity with peers behind Power Ledger, in a world that is evolving towards the use of renewable energy. For this reason, it is one of my long term investments:
I will keep most of my POWR for the long run, but I'll sell parts of my stack in the run ups and buy the dips.
This is not financial advice, this is just my opinion. Any comment is appreciated.
Trade attivo:
My stop buy order has been triggered at 8350 satoshi. Hopefully now we'll retest 8400 and exceed it.
Commento:
Re-testing 8400 after a bullish flag
Commento:
And here we go!
Commento:
Meeting some resistance at the 76.8% Fib. retracement, which is also the 10000 satoshi level (which is a round, psychologically important number). I think we'll consolidate around that level in another flag and hopefully pierce through it soon.
Commento:
I meant 78.6% *
Trade chiuso: obiettivo raggiunto:
First target hit!
Commento:
Price is consolidating in our target level. I see a flag formation.