Lisk (LSK), founded in early 2016 by Max Kordek and Oliver Beddows and headquartered in Zug, Switzerland, is a blockchain application platform that seeks to make blockchain technology more accessible to the masses. Lisk focuses on user experience, developer support and in-depth documentations. Lisk’s SDK kit is written in JavaScript so as to allow developers to easily build blockchain applications on the Lisk blockchain and even deploy their own sidechain linked to the Lisk network. The open source Lisk blockchain platform is powered by Lisk (LSK) tokens and operates under the Delegated Proof of Stake (DPoS) consensus model to allow for its network to be secured by democratically elected delegates.
Lisk (LSKBTC) Chart Analysis
Let's take a look at the chart for Lisk (LSKBTC). Let's start with the daily chart:
Here we can see the downtrend being broken (dashed red). This is a confirmed break.
We can also see LSKBTC trading above EMA10.
The RSI hit oversold and bounced, now sitting above 50 (strong).
The RSI is also showing strong bullish divergence with Lisk's price.
The bullish divergence is also showing with the MACD.
Long-term chart:
Here we can see that LSKBTC didn't hit an all-time low, like many other altcoins, yet it still has the potential to move up from here.
There is over 3,000% of profits potential to ATH... The next ATH can be 10 to 20x higher than the last one and it can take a while to get there, 2020/21.
Massively weak on the RSI (oversold).
The MACD shows bullish divergence on the weekly timeframe as well.
Thanks a lot for reading...
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The thing I like most about this trade Master, is that fact that LISK did not care that bitcoin fell like 10% the other day. That made me think it is a really strong trade because the bottom must have been hit hard and the response to btc dropping is the prove. Unlike most of the altcoins who also lost 8-12% that day.
AlanSantana
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@Kiwii1234, Agreed. Thanks for sharing.
nabhan71
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take care
Confucius_The_Great
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@nabhan71, That is maybe over-doing it. Never seen a falling wedge drawn over such a short time frame. Short time frames = less data to base anything on = less strong. What is best to invest money on? a pattern forming over 3 months or 1 year? Just giving my 5 cents :)
Confucius_The_Great
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@Kiwii1234, Oh, btw it was wrong when i said I have never seen that before...they do it on btc all the time lol...but there the strength of the predictions also shows lol. Seems like 50% / 50% XD