$PowerLedger had made 1st Impulsive Move | Waiting for Bullish Flag to Scalp

in #bitcoin • 6 years ago

CryptoKraze Technical Analysis

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Hey folks, @cryptokraze here and I am going to cover technical analysis of $PowerLedger for Short trade. I am using tradingview charts and price linked to Bittrex exchange. Let's have a look on technical aspects of $PowerLedger.

Possibility on 1 Hour Chart

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If you look at 1 hour chart, you will see $PowerLedger has made an impulsive move and now it is forming bullish flag. This is very common pattern in cryptocurrencies, whenever a coin breaks with big impulsive move, it pulls back and waits for some time before making next impulsive move. If we look at RSI, it has gone above 70 level in first impulsive move and has to dip close to 50 level now, so we have a pull back done and next impulsive move is ready.

  • I would have a buy entry at 0.00005200 with my profit target around 0.00006200 or above.
  • Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.

Have a look on my other Posts

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Averaging Technique in Crypto Trading

Disclaimer
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void.

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6 years ago in #bitcoin by
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     6 years ago 

    Wow very good. I would like to follow you as a trader :)

    [-]
     6 years ago 

    For future viewers: price of bitcoin at the moment of posting is 9100.20USD

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       6 years ago 

      Thank you for sharing information, great

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         6 years ago 

        Heres to the bullrun!!!

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           6 years ago 

          Very good post cryptokraze i appreciate your creativity, i want to become like you, a successful man and brand, i get inspired from your line.

          Keep it up.. you can check my article about WHAT DO YOU SEE? and give me your feedback!

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            [-]
             6 years ago 

            Awesome Post cryptokraze Thanks for sharing.God bless you.

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               6 years ago 

              Thanks for sharing!

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