Showing a double top and a bearish divergence with RSI, I believe we'll see LSK drop the the $6.50 to $6.40 level for either a short target or long entry opportunity.
Just to ask you, Lisk is going to announce some new things (like the rebranding) I believe 22 november. Could this be the reason why Lisk is pumping up now and would that mean that the 'correction' could be 'delayed' (as in: not immediatly right now, wait for shorting?)
DennisLeeBTC
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@Shockinalive, I don't think rebranding on its own would really move the price. However, there are probably rumors circulating that have already been priced in. You've seen the pump on the rumor, now sell the news. If you're long on LISK there will be an opportunity to buy back in.
Shockinalive
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@DennisLeeBTC, true, although rebranding might have a good positioning on Lisk just like it did with NEO. I was just curious about this, because I'm waiting for a new possible entry for Lisk :). Thanks anyway for your comment!
Shockinalive
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Sell high, buy low now? :)
jchuayap
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Hi, thank you for your post..I am very new to chart patterns and would like to learn from you. I was wondering what did you use as confirmation to confirm this as a double top? Thank you.
DennisLeeBTC
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@jchuayap, Declining volume, divergent oscillators, and the final confirmation is the triple top just now.