POWR, updated chart on the 1h. As we can see it's approaching a triangle. Few red flags for this:
- RSI turning down (below 50 still), so not bullish
- MACD about to cross negative, which is also bearish
On the other hand, if BTC doesn't break the 18K mark and stays in the ascending triangle, we might jump out of this in an uptrend, seeking for an ascending triangle and then we might see some up movement for 1 day or so.
If not, we'll be back around the 3K zone to test whether that's support.
- RSI turning down (below 50 still), so not bullish
- MACD about to cross negative, which is also bearish
On the other hand, if BTC doesn't break the 18K mark and stays in the ascending triangle, we might jump out of this in an uptrend, seeking for an ascending triangle and then we might see some up movement for 1 day or so.
If not, we'll be back around the 3K zone to test whether that's support.