Crypto Contest January 18: Power Ledger

Power Ledger (Binance: POWRBTC) has broken out of the triangle pattern in the weekly chart.

(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, Power Ledger began a wave one advance in November 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in January 2018, and the red wave two (blue sub-waves a-b-c) correction ended in November 2018. If this wave count is correct, Power Ledger should be heading next towards the January 2018 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Power Ledger provides blockchain energy solutions for humanity. You can view their peer-to-peer electricity trading project in Bangkok,

About the author: Markus Aarnio

I have 20 years of investing experience. I have traded stocks, commodities, cryptocurrencies, and forex markets.