I have been buying my way into POWR during its initial downtrend from 4000 to 3000 and have advised to clients and students to look into it since the 3000 to 6000 levels back in december. Sold a huge part of it when I said that alt season was over.
After the chaos of january, it seems that POWR found itself again, and is ready for a very high reward low risk trade. Bought back the initial position when btc was 6100-6300$ as with all my alts, and now I'm a buyer again, looking to add in case we get a second alt seasons (LTC, ETC, OMG, XRP and few others paved the way)
virtual stop loss (meaning I will set an alarm and monitor the reaction) below the blue line. Targets will depend on momentum. Rebuy levels too. It all depends on btc piercing the resistance or not. This is an aggressive buy for a trade, as a TOO bullish btc or simply bearish btc will make powr/btc suffer, so act accordingly. But it is also decent long term investor re-entry
Stay frosty
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As you saw, not good ! Uptrend was broken, retested, failed, and then a last chance to sell
If you did not get one of the two small spikes of yesterday and today, you can wait for btc to calm for a spike up, or impose yourself a fixed maximum loss
Rebounds expected at 6600 and 7500 levels
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Bleed is slower than expected, still waiting for POWR to break down. Looking to buy around at the blue support line, ex resistance, ideally below the gray line
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POWR breaking down, we are at first mid term levels. Strong support achieved, expecting a rebound before resuming downtrend. Updated view : Stop loss at red thick line just below buying point. Sell targets : 5300 (scalp/daytrade, and time you move the stop loss to entry) the green circle around 6800
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Bad reaction at 5600
Taking partial profits 8%, and moving stop loss up