SoCr

Bullish Convergence POWR/ETH - Target Price 0.00090000

Long
BINANCE:POWRETH   Power Ledger / Ethereum
Rising wedge with divergence on the RSI . 150 MA has crossed over the 200 MA. Both 50 and 150 MAs are now on an upward slope. Price action has surpassed the 200 MA. Fib trend extension - Support held at 0.382 (0.00081491) POWR appears to have found support at 0.5 (0.00083297), whether this will hold is still yet to be seen, and has tested resistance at 0.618 (0.00085103). I feel confident that price will exceed 0.00088000, however, a target price of 0.00090000 may be overly optimistic. I believe there is strong enough confluence to support a continuation of an upward trend signaling a bull market.

Full disclosure - I am still learning TA - Any feedback is always appreciated - I am trading on POWR/ETH and placing orders based on my TA, however, if you do have any doubts in regards my chart, rationale and that fact that I am still learning the craft; please do not buy or sell based on my analysis alone. I would urge you to also look at more experienced members charts before making a decision.

Thank you for taking the time to look at my idea.
Trade closed: target reached: POWR exceeded my expectations and reached a high of 0.00095489
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