intgsull

LSK ASCENDING TRIANGLE - WAIT ON POSITIONS, HODL THROUGH MARCH 6

POLONIEX:LSKETH   None
POLONIEX:LSKETH is looking extremely uncertain right now. OBV is giving bearish signals but the ascending channel is maintaining for now. We are looking for a touch by the end of the first week of March. If it breaks down, we could see LSK go to the support level around .0064 in the April/May.

On the other hand, a bounce and strong upside breakout from the .034 resistance level could easily take us to the . 05 - .06 level.

Risk is pretty high right now, wait for some confirmation from the price action before taking any positions in the next week. If you're already in over your head, wait for a downside break before thinking about selling, assuming you've managed your risk properly.
Trade closed: stop reached: LSK broke down on the bottom side of the support trendline. Given XBT's current trend breaking down out of a double top and LSK has lost its hype machine, I can't imagine a false breakout scenario.

Comments

Thanks for this chart! Its looking pretty hairy at the moment, so I am watching closely. Please post an update if you can :)
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intgsull joeohs
@joeohs, Doesn't look good man. Updated, but I think the ship is going down.
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joeohs intgsull
@intgsull, It most certainly is. Thanks for the update, and keep up the good work!
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