LSK lookin' to reverse
Updated
Everything adds up almost perfectly among the indicators right now.
RVI is low and is nearing past levels of strong support. So volatility and downward momentum is decreasing which is bullish. Room to fall then bounce off support.
This is mirrored on the stochastic as well as the TRIX.
We should see the price bounce off the bottom of the ascending channel at the 0.236 fib line before seeing a price extension to roughly the 0.618 level and this is confirmed by the contractions seen in the kumo.
RVI is low and is nearing past levels of strong support. So volatility and downward momentum is decreasing which is bullish. Room to fall then bounce off support.
This is mirrored on the stochastic as well as the TRIX.
We should see the price bounce off the bottom of the ascending channel at the 0.236 fib line before seeing a price extension to roughly the 0.618 level and this is confirmed by the contractions seen in the kumo.
Note
LSK entering the buy zone
Join The Spekre ACS Creator Pool and gain access to exclusive trading indicators, copy trading, exclusive content, and more tools in the future! Link: hub.accessprotocol.co/creators/J8TpW6cypxheFUYjWn4mxS6ExvBEMxyMiRvrf43Nhnvy
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.