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RE: $LSK/BTC Technical Analysis "time what is time"
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The price has been in a downtrend since Lisk came onto Poloniex.
There was a long accumulation period with a bottom on ~0.00043BTC before the price broke down into new all time lows, indicating that the push downwards might have been a shakeout before the uptrend.
IMHO we can expect more volume in the coming days and a break upwards into the previous accumulation zone and then an aggressive push upwards in attend to break it first or 2nd try.
I don't really see much downwards possibility as the sell volume is next to nothing, but as always, there is a risk of a whale jumping the sinking ship.
I think the context of the downtrend implies more of the same in terms of probability.. no?
I wouldn't consider downtrend as much of an option as volume on the dumps became allot lower over the time, making this look more like a shakeout.
Like this?
Thats more of a whale sauntering
The push downward was a medium sized holder dumping all of his LSK at a loss, if posts and whining on reddit are to be believed.
interesting, did he state any reason for it?
He felt that there was a lack of indication of direction with LSK. He cited a lack of a roadmap, and a general lack of desire by the dev's to generate value in the coin. He had some fair points, and some outrageous ones. To me it seemed more like he needed the funds he had tied up in it for something, and couldn't wait to turn a profit.
Probably why they say never invest what you can't afford to lose.
if you scour posts at r/lisk you can probably find who I am talking about. He certainly wasn't a friendly person. :)
cool !! thnks for sharing, @ozmaster :-)
no problem ! hope it helps!