Crypto_Ed

$LISK long and short term view

Long
BITTREX:LSKBTC   Lisk / Bitcoin
Based on fundamentals (lots of developments coming) and technical analysis , I'm expecting LISK to reach the top of the channel on left chart and maybe even a breakout to the upside.

LISK found a bottom (see linked chart in "related ideas") and made a nice bounce. currently forming a 5 legs up cycle.
As long as the yellow support line can hold, I'm expecting a pattern as drawn on the right chart.
On sunday night, a Video was posted from a LISK meet up in the Netherlands where a teammember mentions that Lisk is in contact with Google HQ which gave a nice spike to the price. I'm expecting a pull back from this spike which might give a nice entry point. Longer term a good buy without doubt!

Targets and reversal zones determined with Fibonacci extensions.


Comment: Price extended a bit target (3) and (4) seems to be in place as it bounced exactly in the blue box. Target (5) is still valid
Comment: LISK is doing great, according to the set up.
Just broke out and might start next leg up towards next target
Comment: Trade closed manually when LISK team announced late relaunch.
Looks like we're making a big ABC correction and start all over again in a few weeks.
Comment: Due to the disappointing meetup a while ago, it made a deep retrace but still on track. Currently in a bull flag, waiting to break out for next leg up.