oldstout

LISK 3rd triangle into channel?

POLONIEX:LSKBTC   Lisk / Bitcoin
7 months ago
All details at chart.
We saw 2 triangles with bullish continuation. First was symmetrical triangle, second was symmetrical or ascending (with upper line @45k). Now, we spiked a lot and touched upper line of channel. Lisk will go above this channel as soon as possible or will stay into it and will form (white) pennant ( pennant is symetrical triangle after spike - "pole") or will form ascending/descending triangle (red and blue). Channel is pretty bullish and wide - we have 2 versions os lower line. If we would stay into channel, best buy-in is at lower line (with small sl because we can go under channel if we would test line again).

Anyway, we should see interesting price action next days on Lisk.
If you already sold, recomendation for now is wait. If you hold - hold or/and sell at upper line of channel. If you bought high at fomo on this pump - hold and sell if you have profit. Don't do bad fomo-moves, it should consolidate/correct a little bit. 1st and 2nd triangle time was around 1 week, so maybe we will see again out after that time (but it can be much faster because Lisk have now more volume and much more attention).

Stay tuned and good luck.
7 months ago
Comment: .618 correction (i count from start of this leg, around ~43.5-44k):
snapshot
7 months ago
Comment: BAD LINK ABOVE SORRY. This one is correct:
snapshot
7 months ago
Comment: Little update to Lisk chart maniacs.:-) I see some "pattern" in new Lisk uptrend. High-double bottom-correction (around .618), low, a little bounce, again low - small double bottom, and then UP, slowly UP with trendline.
So this is "Double Top + small Double Bottom" SET.

If you have questions, please comment.
Have a nice weekend to all you people.
Good luck and stay tuned - Lisk is in uptrend. 50k is slowly changing from resistance to newborn support. :-)
snapshot
7 months ago
Comment: Monday Update:

Roadmap released, which caused a little bounce to ~54k. Next day price corrected almost to 50k, and unfortunetely, 50k still have no strong buy support so it is weak support for now. Technically we should establish 50k as a strong support but I think it still has chance to be resistance.

What I see now - 3 possibilities. Green is obviously most bullisg with actual trendline, Blue is also bullish, but with breaking 1st version of lower trendline. In that case we should bounce form 2nd version of lower channel's line (start @32.5k low). Red way is bearish and ugly - breaking 2nd trendline and go probably near 40k level.

What will happen? If 50k will be broken today and we stay below, I guess we're going in blue way.

We have 0.3.2, Nano, new office, and now Roadmap. To go above actual uptrend highs, Lisk needs serious news and real develompent progress. This is stage after roadmap, when coin team must accomplish plan for coin development. That's why price corrected very fast after roadmap.

I guess we'll stay some time now in 45-55k range. If 50k will act like strong support we'll go near 55k, if 50k will be resistance (again ehh), Lisk will go to 45-50k, in worst scenario to 40-45k.

Stay tuned, but I reccomend not to be too bullish now (ofc if we break 55-58k, bullish color is natural).

snapshot
Equand
7 months ago
care to check whether it is 3 drive pattern?
Reply
oldstout Equand
7 months ago
Interesting idea, I'll check it later.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out