We can see pretty clearly that LSK arrived at the bottom of the first 1-5 and ABC cycle, found support at the 0.786 and managed to get to the top of the first sub-wave, found support and closed it's sub-wave 2. LSK had indecision yesterday on all candles, not very surprising with people jumping out to get on the BTC train, LSK got back pretty strong to over 0.00133! Interestingly, not many people took profit there, volume on hour-candles look very solid, not many sells were done.
As you can see, from sub-wave 1 to 2 we had a bigger retracement, therefore, after we've reached Top of sub-wave 3, the retracement won't be much, maybe to 0.5 Ret maximum. The black dotted line will be important for the next moves. A strong resistance, will be hard to get through. Once we get there, we will have it as support and might be the target for sub-wave 4!
LSK will have a strong bullish run, RSI looks very good, also throughout the ABC correction that we've had since December and January on many Alts. LSK had it few weeks later.
MACD, Volume and support looks good, we'll get pretty nice profits with this coin! Stay calm, do not get frustrated if BTC hurts Alts again, LSK is a strong coin and our Support isn't too far.
We'll break out of the triangle within the next hours or few days, I am very positive about this.
Explanation
We are in the middle of wave 1 if we take a look at the bigger picture. Wave 2 might go to this black dotted line, time will tell. We will see! :)
I am not a professional trader, I learned a lot within the last months and try to help other people with my hard learned knowledge. Do not take this as financial advise
As you can see, from sub-wave 1 to 2 we had a bigger retracement, therefore, after we've reached Top of sub-wave 3, the retracement won't be much, maybe to 0.5 Ret maximum. The black dotted line will be important for the next moves. A strong resistance, will be hard to get through. Once we get there, we will have it as support and might be the target for sub-wave 4!
LSK will have a strong bullish run, RSI looks very good, also throughout the ABC correction that we've had since December and January on many Alts. LSK had it few weeks later.
MACD, Volume and support looks good, we'll get pretty nice profits with this coin! Stay calm, do not get frustrated if BTC hurts Alts again, LSK is a strong coin and our Support isn't too far.
We'll break out of the triangle within the next hours or few days, I am very positive about this.
Explanation
We are in the middle of wave 1 if we take a look at the bigger picture. Wave 2 might go to this black dotted line, time will tell. We will see! :)
I am not a professional trader, I learned a lot within the last months and try to help other people with my hard learned knowledge. Do not take this as financial advise
Note
RSI shows lower highs, logically because we are in a symmetrical triangle. MACD on Day and 4h shows strong signs. If BTC stays stable and we get more Volume, the only way is up, like Tiesto and Hardwell once showed in their song. Either LSK breaks out with the third wave, or we go down to "IV" and go back up to 5 and break out then.
Let's see how BTC will develop, we can always fall through the triangle and go lower to test support, but there is no reason for that right now
Trade active
LSK might about to break out right nowNote
Looks pretty decent on every higher timeframe. Couple of days will be good for this coin and everyone who is in it :)Trade active
Little UpdateNote
Bounced off excactly at 0.0014400, so my analyses already paid off pretty much on point.
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.
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.