$LSK

LISK – ReTesting Resistance

Lisk
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$LSK: ReTesting Resistance

 

Lisk (LSK) is acting somewhat like┬áthe last article featuring DASH. DASH was falling in a more prominent descending wedge whereas LSK is in a clearly defined channel. Either-way the result is looking much the same…downwards price action, hard floor, and then attack resistance. The level at which this temporary bottom formed is important to me as it landed perfectly at the classic mathematical cryptocentric retrace zone. Though it has been not acting very bullish there is a lot of money behind this market. Once we see a clear breakout from the short term and long term downtrend the upside push is going to be fierce. Hard to imagine it go up 10x like ETH, but the potential for a 2-4x is great.

 

The daily chart is right up against resistance and so is the 1H. It looks like the safest long here is a break above about 0.00041 as that area is both the horizontal and sloping resistance breakout level. If it breaks out I will be cautious of a throwback to support/resistance, and if that order block providing support holds then LSK should be ready for more bullish action.

 

A failure to breakout will demand a short position. If the support block breaks down that would be a good place to add to your short. If said breakdown were to occur then look towards the bottom of the channel for the next support zone. This is a probable consolidation zone due to the fact that the support trend is inside the second, and final, mathematical retrace zone most often seen in crypto. Keep your eyes on this trade, it has been a long time since the ICO launch and once it breaks out you will get left behind.

 

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$LSK

Lisk (LSK)

Lisk

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.

 

 

LISK LSK
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July 9th, 2016

Lisk (LSK) to BTC Comparison

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Click Chart to Enlarge

 Lisk to BTC

This is one of those ” a picture says a 1000 words charts”, so I am not going to dilute it with commentary. Basically, it sure looks like LSK is lead BTC. That seems crazy, but with The DAO flat and ETH in a bearish phase all this LSK volume is going to good use. There is no solid prediction being made from this, just that traders should watch these markets because is they do stay synced together then it is a great edge for entering and exiting BTC at the most favorable times.

 

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June 8 2016

 

$LSK

Lisk (LSK)

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Click Chart to Enlarge

Lisk (LSK)

Yesterday Lisk pinpointed the pivot, which turned out to be bearish, and that trend is making a correction. It is impossible to know if this is a deadcat bounce or another leg up, but it seems well worth trading while it shows strength since it has a fair amount of volume and liquidity for traders to enter and exit.

Chances are if it rallies fast with very large candles then it is a deadcat bounce. If price retraces to test support and moves sideways and up then it will be a stronger rally. Enjoy the break in trend while it lasts.

 

Charts are powered by the SCMR Analysis Suite on Tradingview.com

June 7 2016

 

LSK

Lisk (LSK)

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Click Chart to Enlarge

Lisk Tokken (LSK)

LSK is currently making an important pivot point. The current set up on the 1H is very similar to both a bull and bear set up. The bearish set up (yellow) and sell off was after a very fast run up after launch. Where as the bullish set up (green) was a more shallow slope with sideways action before breaking up. At times LSK seems to be tracking with BTC, so perhaps that is worth watching if you are trading LSK. Price becomes technically bullish once it is above the white down trend line.

 

Charts are powered by the SCMR Analysis Suite on Tradingview.com

June 6 2016

 

 

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