Hello everyone! This is my first post on Steemit and I wanted to share this with you guys...
I've been very interested in Power Coin ever since it was released as an ICO. For whose who don't know - Power Ledger is a system that enables people who have solar panels installed to sell of any excess electricity that they don't use, based upon blockchain technology. I truly believe the project has the ability to disrupt the energy market as we see it today (Which is great for us consumers!)The world as we know it is becoming more electric day by day. In the UK, where I reside. The Government has announced that they aim to achieve 0% petrol and diesel car sales for 2040. This previous statement is also true for many European countries. We've all seen the rise in wind power, hydro power over the past few decades. If you guys are interested to learn more about Power Ledger I'd definitely recommend doing your own research into the project and forming your own opinion since I am not a financial advisor. I simply believe in the project and the potential it has.
Now to the technical analysis that I've been working on for the past few days after seeing a steep rise and decline in POWR. This coin was only available on exchanges from the 14th of November, so whilst the technical analysis is limited to this point I believe my wave count is right so far. We see prominent wave 2 stalling at the golden 0.618 Fibonacci ratio which was created by using Fibonacci retracement on prominent wave 1. It could fall down to the 0.786 level, which would be interesting however it seems that the support lies at the 0.618 level. Within prominent wave 1 I have broken down what I believe to be the main subwaves and minor subwaves. The main subwaves have been labelled by red numbers: 1,2,3,4,5. Waves 3 & 5 have made 1:1 moves which fits in with the Elliott Wave theory I'm using to analyse the chart.
My current prediction is that POWR coin will gain momentum as we begin prominent wave 3 and will reach the 0.00013000 - 0.00014000 mark within the next week or two.
What are your thoughts and opinions on POWR coin, the above analysis and other similar technologies? I'd love to hear them down below.
Please upvote if you liked the content and would like to see more of this!
Luke.
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STOPHate to say it... I was right :D