Power Ledger (POWR): Potential to Retrace 80% of Prior Highs

SUMMARY

Power Ledger (POWR/BTC) is showing the likely contours of a rounded price formation which will likely lead to a Cup & Handle pattern. This would be bullish for the midterm trend and timeframe. The price is expected to rise into mid May or so.

The MACD symmetrical triangle hasn't broken out yet and the likely direction of that breakout is to the upside. The blue Elliott Waves show that a five wave sequence (blue) should lead to 80% of prior highs. The handle portion would generate a correction of 50% or so; but that'll be only the completion of the handle. Afterwhich, the bull run would then get some rocket fuel.

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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
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Tutorial on the use of Fibonacci & Elliott Waves
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