WePower (WPR): Patterns Similar to Bitcoin

SUMMARY

The below chart shows WePower (WPR) which completed an ABC correction and since has tried to rebound higher. Wave C has clear subwaves of 5 and thus its label is well qualified. The recent bounce was also in a five wave impulse (white) and price is currently correcting as a requisite next step.

Many years ago, I started combining chart patterns with Elliott Waves because EW doesn't always show the fullest picture. Chart patterns can fill in alot of missing information regarding the state of sentiment especially when EW is at an impass or has too many alternate counts. The below chart shows a potential Cup & Handle pattern. The handle is being formed and could be nearly complete. Price needs to decisively breach the upper white line and start impulsing upwards in order for the trend reversal to be maintained. Bitcoin has a similar pattern of a downward wedge and a Cup & Handle pattern. This similarity might be reflective of many WPR holders also holding BTC; hence the uniformity of sentiment.

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