Publishing this now although I've been buying since one day Ichimoku turned bullish. This appears to be another U-Shape recovery, see my other analysis that are similar on $ARDRBTC. The volume is doing okay at matching u-shape. It trended down, but after turn went way up, so not exactly a U, more like a hockey stick. We'll see if that matters.
I'll start this idea with 2-Day Ichimoku since 1) One day Ichi is full on bullish. and 2) it's trending to go bullish and we can plot bigger targets. Tenkan above Kijun. Price above cloud. Almost bullish: Lagging indicator just below cloud but above price so that a good sign. Cloud trending to bull. I could buy when all indicators turns green, or take the risk on one indicator lagging. I'll take the risk.
Target 1 is 1800 sats. Target 2 is 3260 sats, as marked by the price targets. The second target has a steeper rise because things tend to go parabolic. Also potential for cup and handle (u-shape is cup), so we can plot that when we near target 1.
I'll start this idea with 2-Day Ichimoku since 1) One day Ichi is full on bullish. and 2) it's trending to go bullish and we can plot bigger targets. Tenkan above Kijun. Price above cloud. Almost bullish: Lagging indicator just below cloud but above price so that a good sign. Cloud trending to bull. I could buy when all indicators turns green, or take the risk on one indicator lagging. I'll take the risk.
Target 1 is 1800 sats. Target 2 is 3260 sats, as marked by the price targets. The second target has a steeper rise because things tend to go parabolic. Also potential for cup and handle (u-shape is cup), so we can plot that when we near target 1.
Comment:
Not gonna lie this one is struggling. Price is a bit far out of pattern, however the moving average is following nicely. The cloud is actually trending to bullish. We'll just have to wait and see if it pulls out of this corrective action the market saw.
Comment:
Comment:
One month later and we are back to where we started. The U-Shape recovery is still valid! Go Lisk Go!
Comment:
Cloud has just become indifferent, with all other signs bullish, so this is bullish, on the verge of very bullish.
Comment:
This almost reached my target, my target may have been set a bit high. Now could have been considered in a "Cup & Handle", but it seems to have retraced too far, 70%, which a handle would usually be 30% retracement. Holding out hope, but likely already not going to follow cup and handle.
Trade closed: target reached:
Target 1 reached. Target 2 not going to happen
Not very exciting action, hopefully it can get back on track.