After reaching all time highs just shy of a dollar/0.00011757 satoshis, POWRcontinues to consolidate. At present, we've retraced ~34% from the peak.
We're looking good on the 4 Hour MACD, with the RSI trending toward oversold conditions, but don't be surprised if the bears test the 0.236 Fib level (0.00007116) before we get a bullish cross.
We have a possible bottom at 0.00007617, which falls between previous support (0.00007837) and the 0.382 Fib level (0.00008004). That's no support to laugh at, but we need to see a close above 0.00008549 on the 4 Hour to shake the downtrend, and the bulls need to set a lower high before I'm going to buy again.
This assumes some sideways consolidation. If we continue to lower lows, I'll update it then.
Projections for when it will become bullish again?
Ripmangojuul
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sadly bought into the hype at .85 cents. holding for now, i keep watching it go down. i see a big future in this, anything with Elon is. Hopefully $5 in jan like you said
Ethernalgirl
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@PeterTrubetskoy, me to. cuz bloggers saying negatives on Powr ledger about it over Bought and people are tired waiting of the news etc. Thats why people are backing out one by one.
Ethernalgirl
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Should i hold it for now.?
Pheriannath
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I thnk its very difficult looking at the POWR//BTC chart at the moment, as BTC is having an immense bull run, the numbers don`t make much sense.
In $, POWR actually only retraced about 23% from its all time high. the last couple of days its been holding really steady. I think with some kind of good news comming out ( the Thai power company contract, or news from their partnership in India ) we could see a new wave upwards, perhaps breaking the $1 mark?
fittsjk
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@Pheriannath, very possible. If we can break the psych resistance of $1, I think we'll see a lot of buy orders get triggered --folks waiting to make sure this is the real deal. We need a photo of Elon Musk and Dr. Green shaking hands. $5 by January! Wouldn't that be nice?
Pheriannath
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@fittsjk, Haha, a photo like that would be quite nice. However, I`ll be quite satisfied with $1.5 in January! :)