JonRulz

Power Ledger Head and Shoulders Money Maker

BITTREX:POWRBTC   PowerLedger / Bitcoin
A head and shoulders pattern has formed and broke & retested the neckline. Possible gain on the fib .618, .768, 1, and 1.618 fib levels.
Kommentar: Broke it's all time high. looking for it to retest the 1 fib level for better confirmation of a break out. If it were to drop to the 1 fib level and bounce and hold above. This is a good buying opportunity. Could very well go off from here though without retesting.
any updates please.
thanks for your hard work :}
Antworten
JonRulz silent_sniper_
@silent_sniper_,

It's normal for things to fall off at major resistance lines like the .768 fib level. I sold 3/4 my position at the .768 fib line. Looking for an opportunity to buy back, but right now isn't that time for me at least. It is very much possible it'll continue to go up in the long run, as the head and shoulders is a reliable trend reversal pattern. Currently, it is looking to form a triangle pattern between the green 50 hour MA. I still haven't decided to buy back now or after it breaks on the upside. BTC seem to have started its comeback. I don't know how that'll effect power ledgers price. If it were to break on the down side of the triangle. the .618 fib level will serve as a good support line. If it were to break above, the .768 fib level is still a strong resistance line. I expect it it to consolidate for a while before a next break out however. mainly based on BTC could be starting too make it's comeback.

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