POWR/BTC Long - between 8% and 30% profits
Powr / Btc is reaching the end of a wedge pattern, and indicators are positive for a breakout to the upside.
- Price is trending towards the upper part of the wedge
- RSI has a good support level and in fact seems to be climbing
- MacD is looking to crossover
A problem for the breakout might be the trading low volume and the current bearish sentiment of the market.
A good entry is probably at a clear sign of a breakout, around 4100 sats.
We would also put a stop loss around 3900 sats.
When breaking out of the wedge,
we might want to wait for a retest to see if it bounces upwards from the diagonal line or goes below it.
We put 4 targets, we can decide the distrubution for ourselves.
However, in this market, we would not wait too long to take profits. We might sell 50% at 8% and the rest later.
If you profited from this trade, we welcome tips at:
- Bitcoin: 1FGtVGU2Ph23j4XtL4ADcqoWBiDnBzaSVf
- Ethereum: 0xdf5D882136D177C8DAb2Cd7dD02D2AD06954276E
- Price is trending towards the upper part of the wedge
- RSI has a good support level and in fact seems to be climbing
- MacD is looking to crossover
A problem for the breakout might be the trading low volume and the current bearish sentiment of the market.
A good entry is probably at a clear sign of a breakout, around 4100 sats.
We would also put a stop loss around 3900 sats.
When breaking out of the wedge,
we might want to wait for a retest to see if it bounces upwards from the diagonal line or goes below it.
We put 4 targets, we can decide the distrubution for ourselves.
However, in this market, we would not wait too long to take profits. We might sell 50% at 8% and the rest later.
If you profited from this trade, we welcome tips at:
- Bitcoin: 1FGtVGU2Ph23j4XtL4ADcqoWBiDnBzaSVf
- Ethereum: 0xdf5D882136D177C8DAb2Cd7dD02D2AD06954276E
Comment:
PowerLedger just released an announcement about a new partnership / project. This may provide the push needed to push the Powr price upwards towards our targets.
Comment:
This trading opportunity might need a little more time to mature. 4100 sats is still our point of entry.
Comment:
Indicators are looking positive, we will watch this and see if it moves in the days to come.
Comment:
Broke to the downside of the triangle, trade cancelled.
Comment:
The technical indicators are looking good. This should be a good buy-in point, between 4300 and 4450 sats.
That being said, it is still wise to keep a tight stop loss and keep an eye on Bitcoin price movement.
That being said, it is still wise to keep a tight stop loss and keep an eye on Bitcoin price movement.