My buddy was ready to buy as LSK was is pointed for a news conference tomorrow. I said wait let me look. UGLY!!! The buy the rumor has already run it's course and I think we are now in a correction stage. I warn fellow traders do NOT buy on news, as you will Lose! Especially when it's already priced in to the good side. It would have to be spectacular news at this point. I caution all Crypto investors DO NOT BUY NEWS, as you are already late. There is no insider trading in Crypto's.
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I want to emphasize anything can happen and this is not the bible only the most likely scenario in my opinion. The market is always right Analysis needs to be right 51% of the time or more to make money. I only show this as I would pass on this for a better coin with a better setup!
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looks like your finding support at the wave 4 ending point. But it's clearly down trend now. Wait for a correction and some sideways consolidation and track for a breakout.
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Pretty much going the way we thought it would. No arrow is precise it's the movement that counts. I would anticipate one more leg down if this current pop is the start of the 4th wave. should get some consolidation and then look for a setup.
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Before the bulls start running, we need more validation that the retracement is not steeper than we originally thought. Nothing has changed other than the magnitude of the drop. We are still bearish!!!
Before the bulls start running, we need more validation that the retracement is not steeper than we originally thought. Nothing has changed other than the magnitude of the drop. We are still bearish!!!
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Well even the best of us get it wrong from time to time and I missed this one with a bad count and didn't realize it till this morning when I looked that it was up. I went to my chart and realized I had the retracement incorrect. I had the channels marked correctly but that is hindsite at this point. I have updated this and switched to a buy as it has not only broken the channel but did it strongly.