LISK rebranding = 100% gains from entry, but correction first!G'day fellas, today I bring you LISK. I only wish that I found this gem sooner and could have capitalised on some of the sweet sweet gains, this coin has already had. No fear though. I still believe the coin has a little bit of steam to go, but before that it needs to correct before it needs to settle down.
LISK is a cryptocurrency forked from Cypti. Much like ARK, this is another platform currency but with a twist. Instead of running dAPPS on the main blockchain, each one has its own blockchain! A lot of people say that this is the better ARK and whatnot as both seem to serve a very similar purpose.
Buy zones: 0.00212978 - 0.00238579
Sell zone: Only 1 in sight. 0.0047500+
Fundamentals:
The coin is rebranding on the 20th of February. Rebranding alongside hard forks and airdrops often result in mass changes. New roadmaps are released, partnerships are announced etc, previous rebrands have let to sky high prices in coins such as VOX and whatnot. LISK is no different. They also plan to upgrade their mainnet protocols - although they are further down into April and beyond.
Technicals:
LISK looks to be completing the 3rd impulse wave up in a 5 wave elliot wave. As per elliot wave rules, it states that the 3rd wave is often the longest but never the shortest, and i can see the formation of 5 subwaves within the 3rd impulse wave up. The final sub wave is completing as we type right now,so I believe it is a good time to wait for a correction before reentering.
The first impulse wave corrected a small amount to its 0.382 fib level and was rather flat, and as a result I expect this one, the 4th impulse wave to be more zigzaggy and correct down to the 0.618 fib levels. Though you can consider laddering your buys from the 0.5 fib levels all the way down to 0.618.
Sell points are retrieved through Fib extension through the super cycle elliot wave targeting 0.00475 or more, although you can gradually take profit slowly on the way up. 0.000475 puts it just under the 2.618 levels. Reason why I selected this value is I expect the current 3rd wave to reach just under the 1.618 fib extension which is around 367k. Mind you this is is a rather prudent sell zone, as I am more of a conservative trader more happy to lock in my profits.
I am still learning TA, so please please please roast me and give me some tips.
Go ahead and grill me :) Any feedback is appreciated
