I have seen the odd tweet about Lisk (LSK) so I decided to take a look for myself. At a glance it is easy to see that it has been in a down trend for months, but it has been making somewhat of a floor lately. The price has slowly creeped sideways to the main resistance and certainly has the technicals lining up for a bull trend. Altcoins are very volatile therefore trying to front-run the market is not a good idea this close to resistance. With such a nice set up it is better to wait the extra few satoshi’s and enter a trending market than be stuck with a dud.
The chart below is a split screen with the upper portion being the 4H view and the lower being the daily chart. The daily is very close to moving out of this down trend. Today’s candle is an unconfirmed reversal(blue) and the StochRSI has crossed upwards and is getting very close to leaving oversold. The 4H chart show’s that on the last push up to the trend was hit, then the price retraced to a higher low, and that it is now currently trying to printi a confirmed reversal candle.
Altcoins move quickly so it is best to set an alarm and catch this train as it is leaving the station. The video goes into a more detail description of the market and the type of trend to expect from LSK if it can breakout from these levels. After watching this first video on Lisk go check out the rest of our YouTube channel and don’t forget to subscribe for instant updates. The video series on Blackcoin is how CSN likes to approach markets….find markets in consolidation, look for positive momentum indicators, then enter as the rocket leaves the launch pad.
July 9th, 2016