Been watching this one bleed for weeks, but the chart is finally showing signs of life😁
Since that massive September pump (up to $0.20), $POWER has been in a brutal downtrend.
However, looking at the daily, we’ve finally found a floor. Price is currently sitting at a major horizontal support zone around $0.055 - $0.06.
Notice the volume? It’s practically dead on the way down.
Sellers are exhausted. We just printed a +7% bounce off this support level with a slight uptick in volume. This looks like a classic mean-reversion play.
The Trade Signal (Long):
· Entry: $0.060 - $0.062 (Current market price is fine, or set limit orders lower)
· Stop Loss (SL): $0.0545 (If we lose this level, the structure breaks, and we're going lower. Keep it tight).
· Take Profit 1 (TP1): $0.070 (Quick scalp, psychological resistance)
· Take Profit 2 (TP2): $0.080 (Previous consolidation zone)
· Take Profit 3 (TP3): $0.10 (If we get a full send)
This is a reversal play on a low-cap perp. Do NOT use high leverage here.
The trend is still technically down, so we are counter-trend trading. Use max 3x-5x and let the setup play out.
If it pumps, take profits on the way up and move your SL to breakeven.
Not financial advice, just sharing my chart. Always DYOR and manage your risk!
$POWER
Since that massive September pump (up to $0.20), $POWER has been in a brutal downtrend.
However, looking at the daily, we’ve finally found a floor. Price is currently sitting at a major horizontal support zone around $0.055 - $0.06.
Notice the volume? It’s practically dead on the way down.
Sellers are exhausted. We just printed a +7% bounce off this support level with a slight uptick in volume. This looks like a classic mean-reversion play.
The Trade Signal (Long):
· Entry: $0.060 - $0.062 (Current market price is fine, or set limit orders lower)
· Stop Loss (SL): $0.0545 (If we lose this level, the structure breaks, and we're going lower. Keep it tight).
· Take Profit 1 (TP1): $0.070 (Quick scalp, psychological resistance)
· Take Profit 2 (TP2): $0.080 (Previous consolidation zone)
· Take Profit 3 (TP3): $0.10 (If we get a full send)
This is a reversal play on a low-cap perp. Do NOT use high leverage here.
The trend is still technically down, so we are counter-trend trading. Use max 3x-5x and let the setup play out.
If it pumps, take profits on the way up and move your SL to breakeven.
Not financial advice, just sharing my chart. Always DYOR and manage your risk!
$POWER
