This "analysis" only wants to provide a simple long term view by only considering the cycle bitcoin went through twice already.
The price action of bitcoin shows a simple pattern that is dividable in four steps:
1.Sideways movement from the upper to the lower end of the natural growth channel (NGC):
2.Climbing along the lower end of the NGC
3.Heavy price...
LSKBTC is forming a cup and handle pattern on the 4h chart, setting it up to break the main resistance at approx. 14000 sat.
After being rejected once, LSK gained back tempo by finding support on the 4hour 100 MA and might now be ready to break the main resistance at 14k sat. Another strong resistance is seen at 14400 sat (200day MA). If lisk manages to take out...
Looking at the 4h chart, a H&S pattern is forming, suggesting upwards movement towards the major downtrend line.
After seeing slight rejection from the 0.382 fib niveau, bitcoin now found support at the 4H 100MA, probably leading to a retest of the 0.382 fib niveau. If this resistance gets broken, upwards movement at least to the 0.5 fiv niveau is to be expected.
