$LSK just went from a forgotten accumulation zone to a 100%+ vertical move. Now it’s running straight into the area where this rally could get tested...
Price pushed to $0.3672 and is now sitting around $0.3515, right below the bigger $0.3800 to $0.4000 supply zone. On the 15m chart, the buying pressure is starting to slow down, with repeated upper wicks and a possible double top forming near the highs.
This is why I’m not chasing the green candles here.
I’m watching $0.3520 to $0.3720 for a short position but I want to see rejection rather than blindly shorting strength. A 15m breakdown below $0.3480 would give sellers more confirmation.
Targets are $0.3337 first and $0.2921 next, with $0.42 as invalidation above the recent high.
After a move this aggressive, the interesting trade isn't always finding the next green candle.
Sometimes it’s finding where the first serious sellers are waiting.#ClarityActFacesProceduralVoteSept15 #LSK
Price pushed to $0.3672 and is now sitting around $0.3515, right below the bigger $0.3800 to $0.4000 supply zone. On the 15m chart, the buying pressure is starting to slow down, with repeated upper wicks and a possible double top forming near the highs.
This is why I’m not chasing the green candles here.
I’m watching $0.3520 to $0.3720 for a short position but I want to see rejection rather than blindly shorting strength. A 15m breakdown below $0.3480 would give sellers more confirmation.
Targets are $0.3337 first and $0.2921 next, with $0.42 as invalidation above the recent high.
After a move this aggressive, the interesting trade isn't always finding the next green candle.
Sometimes it’s finding where the first serious sellers are waiting.#ClarityActFacesProceduralVoteSept15 #LSK
