LSK longCurrently consolidating in ABCDE pattern within an ascending triangle. I like to buy at the bottom trendline and hold for the breakout, closing the position on a close below the trendline. Lisk will be rebranding on 30th Feb (around 3 weeks away), they have a big party and presentation planned and other coins that have rebranded have seen their price rocket e.g. Antshares > NEO, as there is usually some good technical news surrounding the rebranding. This is one of my top swing-trade ideas for Feb.
LSKBTC trade ideas
LISK repetitionLISK looks like it might be repeating its trend of consolidating with a quick dip before starting a sudden breakout uptrend. If it does repeat it will be need to break through the resistance line that it has tested several times since the ATH. Be sure to set a stop loss on this one as it could easily go on a bearish downtrend.
LSK/BTC - Bullish - Parallet Channel break.The SDK is a framework written in JavaScript to deploy your own blockchain network next to the main Lisk network. Decentralised applications can be built on top of your own blockchain.Possibilities are endless, like developing platform independent social networks, messengers, games and so on. All on your own blockchain network including corresponding token, fully decentralised, and all this without the hassle of complicated consensus algorithms or peer-to-peer networking protocols.
LSK has spent most of the last year in a long-term channel. We have closed daily candles above the long term resistance and price has retested the area and reacted.
We can measure where price maybe heading by taking the width of the channel and usually price will reach double the width.
Lisk Flag forming in this accumulating timeAs lot of you know already there is planned huge re-brand in February and that is one of the reasons why lisk ih growing.
You can see in chart that there is a flag forming, so this is good accumulating time. (Also this recent spike could be forming of a first Elliot wave and you know what comes after second wave which is in forming now)..
Buy 0.00198-0.00214
Sell 0.00241 for the first target, or hodl until mid February (re-brand).
LISK (LSK)INTERPRETATION
Strong foundation & promising project makes BINANCE:LSKBTC a strong long-term hold. Short-term buy signals present.
POSITIONS
bought @ 20000
TARGETS
- Long: $100 LSK/USD (prediction based on non-technical evaluation)
BUY SIGNALS
- T&K bull cross
- Price-T&K cross
- Price-Cloud entry & breakout
CAUTIONS/CONFIRMATIONS
- 0.236 fib resistance breakthrough w/other buy signal retained to result in continual bull run
- current selling pressure to drive price back down; test will be to resist Price-Cloud bear entry
LSK Fake Breakout of Falling Wedge?Breakout of a falling wedge in a previous uptrend. However volume is not agreeing with the breakout and we can see a bearish divergence is occurring on the SRSI and the RSI is not signalling heavy buying either. Volume indicator shows this as well that they buying is not there. Something to keep in mind is a break of a wedge/channel or pennant/flag should also occur with higher volume. Volume should be higher on the pole (uptrend or downtrend leading into the flag/channel/wedge) and steadily decrease as the flag/channel goes on as the market becomes uncertain and buying/selling cools off. Then the breakout of the channel tends to lead to higher volume confirming the breakout and leading to a good trade to be made on the breakout above or below the flag, pennant or channel resistance/support.
