Hodl, dear members of LeoFinance!
Today I would like to share something interesting on the price chart of Power Ledger.
In the weekly chart (1W), POWR/USD is going to form a solid bullish candlestick this week:
And, actually, this is going probably to be the biggest bullish weekly candlestick since the beginning of 2018. So, I view this as a solid bullish signal.
Moreover, I would like to remind you that, in the daily chart (1D), POWR/USD has formed a Triple Bottom (common trend reversal pattern):
As we know, a breakout took place, and the price has surpassed the neckline. So, in this case, the Triple Bottom pattern has been validated. Also, during the correction that took place in the summer, the price of Power Ledger declined and tested the neckline. The price didn't drop below the neckline. It just received enough support from the neckline and has rebounded. So, this is a typical example of how the Triple Bottom works. That's why the current bullish weekly candlestick seems to mark the beginning of the long-awaited uptrend. HODL!
To be continued ...
As of the time of writing, one POWR costs $0,7841 on the Binance crypto exchange, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 15 years, and as a cryptocurrency analyst for the last 4 and a half years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
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