BITTREX:POWRBTC   PowerLedger / Bitcoin
POWR heading back down to test support at the 3100sat level for the third time. It is forming a descending triangle pattern which usually is a bearish sign. However if this support level holds for the third time it will form a triple bottom which is a strong reversal sign and we may see a decent bounce and a break out of the triangle.
My ultimate entry for a POWR long hold is the 3k area but if it looks like this support is going to hold again I will look for an entry once confirmed.
If it breaks down here then the next key support level is a weekly at around 2950sats.
Watching closely.
Trade active: Partially filled my buy at 3030 and now long on powr!
Trade active: Order filled!
Comment: I removed my stop loss in this case as i feel like powr is a good long term hold.
Continuing to hold.
Great tips! I wonder how well this will work when combined with my Spectro Indicator strategy?
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Jack_Boulevard CassyFischer
@CassyFischer, what's your strategy mate?
sounds interesting
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