LISK (LSK) Update: A Sideways Correction Needs a Lower Low

in lisk •  last year

SUMMARY

LISK (LSK/USD) has been correcting since early January and as can be seen in below chart, price has been going sideways. When price has no particular direction, the WXYXZ triple combination label is used (blue). This count shows that the blue Z would require a lower low and price is likely travel as a 5,3,5 zigzag. IF this is correct, there should be a bounce for an abc (red) retrace.

A more simplified labeling is an easy red ABC. While technically correct as shown by the subwaves, this ABC doesn't exactly address the sideways meandering of the price. Regardless, the terminal end of wave C also calls for a lower low. The five subwaves of C are shown in the white 1,2,3,4,5. The lower low is expected to coincide with Bitcoin's current correction.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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Hey! What's your opinion on McAfee's project called Skraps? I just wrote an article on it and it looks convincing. May want to keep it on your radar.

I have bee noticing Lisk on a general downtrend. I am a holder and I do believe that it's gonna bounce back gradually.

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here is a post of mine which looks at a mock portfolio based upon cryptos that haejin said would go up, it also links to the portfolio. I would like to notice that the portfolio itself is not doing so hot and that if someone had put $100 in each of these cryptos (in January) then the total value of their portfolio would be around $250 less than what they spent. Haejin's past predictions were only considered good because it was a bull market where everything was going up and you could roll a super special 52000 sided die (each side with a different crypto on it) and chances were the crypto in question would rise in value.

So, HODL for sure but I would really recommend that you do not use the advice of Haejin.

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Vote to vote follow me 👆

I follow you follow me please. And I upvote you everyday.
Last upvote here: https://steemit.com/@underworld24
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Coins mentioned in post:

CoinPrice (USD)📉 24h📉 7d
BTCBitcoin9883.650$-8.37%-6.21%
EOSEOS6.448$-11.16%-24.78%
LSKLisk15.512$-7.17%-17.08%
QAUQuantum0.180$-7.18%-20.26%
WAVESWaves6.177$-0.18%-3.22%

Found about your blog and I really love your analysis about some known and unknown coins. I am also a diehard crypto lover. Though i found steemit during January but it took me to some days ago to really know it usefulness. I am focusing my blog post around crypto and blockchain and I will be very super happy if you could expose some of my post that I include in the comment I will be making on your posts. I won't mind connecting with you personally either but I can clearly see you are a busy person but I can assure you, you have gotten a loyal follower. More success Sir.


Interesting Symmetry. It's a very useful tool that not too many people use.

I follow you follow me please. And I upvote you everyday.
Last upvote here: https://steemit.com/@underworld24
I check the comments.

Haejin is Raping the reward pool at 2.133% of the reward fund!

As well, Haejin's predictions are so bad that using a mock portfolio determines just how much money you lose following his stupid advice here

Hi Haejin i wouldn't worry about explaining yourself you are doing what we all wish we could do we are living in a free world and you can do what you want that's your business and i pat you on your back for such a great effort and following and reward pool if it aint you it would be someone else these people that bring you down have no life and nothing better to do they are just jealous of your earnings .These people will never change there ways and will be always jealous of anyone doing good. Stay strong and dont waste your time reading any negative posts cheers Deni Guerrera