Good News coming from the Lisk team and reevaluation of our lisk chart! Lets get into it.
So yesterday I was looking at a C & H formation (see below) and traded the breakout from the handle. Unfortunately due continued BTC decreases, Lisk didn't quite make it to retest the top of the cup formation. I was eyeing a 20 BTC sell wall that was creating downward selling pressure in the 1300 satoshi area. So we'll be looking at that are for more resistance today.
![Sleeping Giant: Lisk on the Move! C & H pattern [4h]](https://static.tradingview.com/static/images/svg/idea-image-placeholder.svg)
Today Lisk team announced the Beta release of Lisk Core 1.0 is ready to go. Which is huge news! If you follow the team on twitter you know they have been up late night working on the alpha to get it Lisk Core out to the public. Moving on from Monday dApp registration and custom tokens will begin.
Shortly after the tweet we saw some upward buying pressure and per usual in crypto people will sell faster than they will buy good news! Not us though, we accumulate at these periods and let our strong hands hold full bags.So lets look at the charts to see whats happening!
Our moving averages are squeezing and converging which is a strong indicator of "explosive movement" approaching and if we consider Lisk has been a strong downtrend for weeks then we are more than likely moving upwards strongly. Additionally we take notice that the movement in the past days has formed a Symmetrical Triangle (lower highes, higher lows) signaling continuation or reversal. Again since Lisk has been in a strong downward trend since February we can lean towards Lisk being in reversal. I'm not seeing strength to breakout of the symmetrical triangle so we will more than likely come back down to test the blue support line particularly at the 12000 satoshi area. I think this will allow enough time for investors and traders to position themselves into better entries as news of the Beta launch spreads. Weekends aren't the best days for crypto news but we take what we can get.
Disclaimer: BTC is King and will mess up your trades! With plenty of funny business happening with BTC and crypto as a whole (India FUD, MtGox etc...) set your stop losses tight and don't find out how much pain you can tolerate. Lisk WILL surge when (not if) BTC starts moving in a positive direction.
Leave me your feedback! I'm learning TA and would love to chat!
Next stop Moon!
twitter.com/LiskHQ/s...s/982325398032781312
So yesterday I was looking at a C & H formation (see below) and traded the breakout from the handle. Unfortunately due continued BTC decreases, Lisk didn't quite make it to retest the top of the cup formation. I was eyeing a 20 BTC sell wall that was creating downward selling pressure in the 1300 satoshi area. So we'll be looking at that are for more resistance today.
![Sleeping Giant: Lisk on the Move! C & H pattern [4h]](https://s3.tradingview.com/i/iScb1seP_big.png)
Today Lisk team announced the Beta release of Lisk Core 1.0 is ready to go. Which is huge news! If you follow the team on twitter you know they have been up late night working on the alpha to get it Lisk Core out to the public. Moving on from Monday dApp registration and custom tokens will begin.
Shortly after the tweet we saw some upward buying pressure and per usual in crypto people will sell faster than they will buy good news! Not us though, we accumulate at these periods and let our strong hands hold full bags.So lets look at the charts to see whats happening!
Our moving averages are squeezing and converging which is a strong indicator of "explosive movement" approaching and if we consider Lisk has been a strong downtrend for weeks then we are more than likely moving upwards strongly. Additionally we take notice that the movement in the past days has formed a Symmetrical Triangle (lower highes, higher lows) signaling continuation or reversal. Again since Lisk has been in a strong downward trend since February we can lean towards Lisk being in reversal. I'm not seeing strength to breakout of the symmetrical triangle so we will more than likely come back down to test the blue support line particularly at the 12000 satoshi area. I think this will allow enough time for investors and traders to position themselves into better entries as news of the Beta launch spreads. Weekends aren't the best days for crypto news but we take what we can get.
Disclaimer: BTC is King and will mess up your trades! With plenty of funny business happening with BTC and crypto as a whole (India FUD, MtGox etc...) set your stop losses tight and don't find out how much pain you can tolerate. Lisk WILL surge when (not if) BTC starts moving in a positive direction.
Leave me your feedback! I'm learning TA and would love to chat!
Next stop Moon!
twitter.com/LiskHQ/s...s/982325398032781312