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LSK/BTC (binance) - LSK probable ABC

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Published: 05 May 2018 › Updated: 05 May 2018LSK/BTC (binance) - LSK probable ABC

LSK/BTC (binance) - LSK probable ABC

It looks to me that LSK has established an upwards trend and that the first subwave has been completed.
The retracement isn't completely finished though and now, depending how you wan't to trade, we got opportunity for making profit.

As seen in the picture below we have clear fib targets from the last subwaves fib extension. Now I think we could have a possible retrace to 0.618, 13400 sat, since last wave retraced similarly but the possibility for this to be a bottom before a potencial ABC to lower grounds is also a scenario.

LSK.png

Personally I assume that this is an ABC and will trade with laddering up too 51000 sat because there lies a lot of sell orders.
We can also see a potential support zone between 16300 - 17700, which would leave us time for potential buy ins, if continued uptrend.

Use laddering for lower grounds and ABC scenario and for the first wave you have a potential 8-14% profit with potential for more if trade through ABC scenario of continued uptrend toward 17000 - 18000 sat.
You own risk etc.

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