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Lsk

LSK BTC pattern emergingLast time RSI and MACD dropped this low, it signaled the beginning of the last leg of the correction before another big move. Appears that the EMA and MA are about to converge and possibly cross to signal a change in price direction. Could see a new high in a few weeks possibly after a little sideways action. I've increased my holdings in LSK consistently and I am hoping to take some profits on the next move, assuming that the pattern will repeat similarly. IMHO there is never a bad time to buy LSK, but now is a really good time! This one still has a lot of room to go up. New low could be around .00085 as the correction pattern completes then hopefully a new high around .00195 or as high as .0024, but I think that will depend largely on the price of BTC. Would like to see it close over .00143 to confirm. Even a buy in at .00143 could see as much as 50%! All of us hardcore LSK hodlers are dying to see how this plays out. Got slightly lover numbers when I worked it out on coinigy - should give you a good range to work with. www.coinigy.com
Long
by cryptogazer
3
LSK - BTC analysis?As a new cryptotrader, I have been studying Elliot wave theory fundamentals and patterns... I have been trying to figure out where we are on the impulse waves with LSK as I am trying to decide if I should adjust my position. While I believe that this is a solid long term hold I would like to be able to make some predictions on entry/exit strategies and where I should be looking to take profits or reduce my position. One possibility is that we are in wave 4 retracement after the new high of wave 3. This would mean that we could expect sometime in the near future an extension of a new impulse wave 5 to the .00251-.00281 area. I would then predict retracement to the .00195 area. So if this is wave 4 retracement, it cannot cross below the top of wave 1 - which is why we are having this sideways price movement while volume declines. Other possibility that I would consider is that we are in a distorted or truncated wave 5 due to not enough momentum left after a huge wave 3 or the FUD coming from China. I have found research showing that this is a real pattern and in some cases the 5 wave will fall just short of breaking the high of wave 3 or barely break it. In that scenario, I would be calling wave 1-2 the small impulse leading to the huge wave 3. To me that makes sense but I'm also not as experienced at identifying variations in the patterns. OMG also moved in a less textbook way and it seems as though I bought on the way up on wave 5... took profits, but should have waited to play with that one until the next run. Lesson learned, which is why I am really really digging into analysis on LSK.. and I haven't seen any good analysis or information on LSK so far. So let's start the discussion! Really would appreciate some feedback on this analysis so I can learn more about Elliot Wave theory and measuring fibonacci retracement and extension.
Long
by cryptogazer
3
LSK/BTC set-up to move higher or set-up to break lower? I had posted another chart that carried the idea that LSK would move higher after completing the current triangle... here: After further examination, I realized that a similar pattern has appeared in the record where LSK broke lower... Currently, there is a battle between supply and demand. Every time a crypto moves sideways, it is because supply and demand are near equilibrium. If demand overcomes supply, then we will certainly move up. If supply overcomes demand, then we will break lower. The point of publishing this chart is to share that, as with everything crypto, there is justified uncertainty here. Always use stops.
by rliebert
2