POWR Analysis - Confused Energy Needs To Sort Itself Out

Long

PowerLedger / Bitcoin (BITTREX:POWRBTC)

Updated

BITTREX:POWRBTC PowerLedger / Bitcoin

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POWR seems to have found a momentary bottom at the 0.236 Fib retracement level, and is now dancing along the 0.5 with some bearish energy on the 30 Min and 4 Hour timeframes. We're on the verge of a bearish MACD cross on the 4 Hour, with some bullish momentum on the Hourly.

I'm expecting a pullback to 0.32 Fib level before rallying towards our recent highs. We could push back down towards 0.236 if folks are stop loss hunting, but on the whole, I'm bullish on

POWR .

If the bulls can exceed 0.0009145 in a shorter timeframe, we could see a follow-through of a reversed H&S pattern, but that would require a substantial amount of volume.

Comment:

POWR currently testing key resistance. Upon rejection, I'd anticipate a pullback towards the buy zone. A close above, could indicate another leg higher towards recent highs.

Comment:

Wow. Watching for reversed H&S follow through. It'd be tough; key resistance falls along the .786 Fib.

Comment:

Possible bull flag on the daily.

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