LSK/BTC has been ranging in an ascending channel since last June but could be entering in a bullish breakout. However, a bearish breakout in December turned out to be fake so what we're looking for a is a return to broken resistance and confirmation that it has turned to support. If price bounces, we're good to go, otherwise it's back to business as usual.
Fib extension gives us a target of ~0.004.
Fib extension gives us a target of ~0.004.
Note
This is nearing the bottom of the channel. A good swing trade entry could happen at around 0.0009 with a target of the top of the channel at ~.0040. Keep an eye on this.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.