ecoinamist
Long

POWR Ledger | New Coin / New Technology = Lots of Growth

BITTREX:POWRBTC   PowerLedger / Bitcoin
Picking up some POWR during this dip. I like it here because we are close to the bottom of the channel.
Me and many of my followers originally entered at 6.5k (original chart deleted by TradingView), but I believe this is a new good opportunity to accumulate.

This is a mid to long hold for me. Short term upside looks decent as well. Although coin is currently at 6x the ICO price, the current Market Cap ranks it at only #72 among other coins. A coin like this should rank much farther ahead (I'll explain why in the fundamentals below).

In addition, coin is not even $2 yet. These parameters indicate to me that we have a lot of growth ahead of us.

Entries:
Position at 9.9k, orders at 9.1k, and 8.5k

Targets: 11.7k (major resistance), 15k, 19k

Stop Loss: 7.6k
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Fundamentals:
I like to use different metrics when evaluating a coin. One important metric I like to consider is the sector that the coin is trying to tackle. Another metric is how far along a coin is to executing real projects, or how much backing it has.

POWR is a coin I believe is in a very promising sector: Energy Blockchain.
I could go into the technology benefits of having a decentralized network that can keep track of individual energy usage, and allows for peer to peer energy trading. Instead, I'll just link this article that states companies, including Shell and BP , are backing a blockchain powered energy trading platform:
https://www.coindesk.com/bp-shell-statoi...

While POWR is not this specific platform, I included the above to show that this is a very valuable sector that big companies are showing interest in.

POWR itself has the backing of the Australian government ($8 million grant), and is working with the biggest energy provider in Australia.
This puts POWR ahead of most coins in terms of development and backing, while being in an a very valuable sector that could become global.


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As always, please feel free to ask me any questions you have. Always willing to have discussions with new and experienced people alike!
Trade active: POWR showing why I like to use these FIB channels to break down my trade.
You can see that the big alt dump caused price action to hit bottom of the channel before bouncing back strong.

Using this channel allows me to put buy orders in this bottom range and capitalize on these dips. Got some 8.7k

Anything below 10k is a steal in my opinion
Comment:

Comments

yesterday's price: 117000
I think for the long term, because this is a very valuable project
target: 25000
+1 Reply
Thank you for the heads up. Really like POWR as a long term option. So much potential.
+1 Reply
@Staz17,
Agreed. This is an established coin in a sector established by big companies.
And you're welcome, hope it helps.
Reply
Thanks.
Reply
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