Lisk failed to hold the $12.15 resistance, however, we have a symmetrical triangle formation (PURPLE TRIANGLE) and we will probably see price action as we approach the end of this formation. Until we reach the end of this formation (Around the 12th of May), we will probably see some consolidation and small price movement and I am leaning towards the price breaking upwards by the end of this symmetrical triangle!
I am extremely bullish on LISK from a fundamental POV but we have to understand that the current market conditions, specifically BTC, have a deep influence on price movement of all alts in general. For now, everything looks good and I expect the market to continue its bullish price movement in the coming weeks.
ENTRY:
You can either make your entry at $10-$11.50
OR you can wait for a bullish confirmation once we break the upper symmetrical formation (downtrend line)
TARGET PROFITS:
TP1: $17.13
TP2: $20.32
TP3: $23.50
TP4: $28.03
TP5: $33.80
TP6: $38.20
STOP LOSS:
I personally have no stop loss set on LISK as I love LISK and I am investing in it rather than trading as I believe it has great long-term potential, but I do take profits on the way up in order to have collateral to buy any significant dips, but will never sell all my position.. I have no intention to get stopped out in any sudden flash crash that could instantly liquidate my position. But if you are in this for a quick trade, you can consider the symmetrical triangle's below line as your stop loss/entry indicators.
Good luck and only invest $$ that you can afford to lose. I am not a professional trader nor adviser and you should only invest/trade based on your own due diligence.
I am extremely bullish on LISK from a fundamental POV but we have to understand that the current market conditions, specifically BTC, have a deep influence on price movement of all alts in general. For now, everything looks good and I expect the market to continue its bullish price movement in the coming weeks.
ENTRY:
You can either make your entry at $10-$11.50
OR you can wait for a bullish confirmation once we break the upper symmetrical formation (downtrend line)
TARGET PROFITS:
TP1: $17.13
TP2: $20.32
TP3: $23.50
TP4: $28.03
TP5: $33.80
TP6: $38.20
STOP LOSS:
I personally have no stop loss set on LISK as I love LISK and I am investing in it rather than trading as I believe it has great long-term potential, but I do take profits on the way up in order to have collateral to buy any significant dips, but will never sell all my position.. I have no intention to get stopped out in any sudden flash crash that could instantly liquidate my position. But if you are in this for a quick trade, you can consider the symmetrical triangle's below line as your stop loss/entry indicators.
Good luck and only invest $$ that you can afford to lose. I am not a professional trader nor adviser and you should only invest/trade based on your own due diligence.
Comment:
Just touched our uptrend line in our symmetrical triangle formation ~$10.60 which in my opinion is a good entry!
Comment:
Taking a small profit with a very small position of my LISK by selling at $14.25 and setting up a buy order at around $12. What if it never goes down to $12 again? Profit is profit and you never lose by taking it. I like to be in a position where I have hedge.
Lisk is looking good. Let's see where it will head by the end of this formation :)
Lisk is looking good. Let's see where it will head by the end of this formation :)
Comment:
Still in our symmetrical triangle formation. Keep a close eye on Lisk in the coming couple of days as I expect significant price movement.
Order cancelled:
We got a bearish confirmation as price dropped below our symmetrical triangle's uptrend line at $11.90
Will update LSK analysis shortly.
Will update LSK analysis shortly.
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