After the sudden move, $LSK becomes even more important to verify. On the four-hour chart, price is below EMA50, which is below EMA200—a clear bearish alignment. The one-hour structure is the same. RSI is around 37, with no sign that selling momentum is fading.
With both timeframes moving in sync to the downside, I’m inclined to view any rebound as a correction rather than a reversal. The cluster of moving averages overhead acts as resistance; as long as price cannot reclaim it, the structure remains bearish. The closer the rebound gets to resistance, the more closely we should watch the sellers’ response.
🔴 Trade direction: Short
📍 Entry range: 0.233898 – 0.234514
🛑 Stop loss: 0.242412
🎯 Take profit 1: 0.228052
🎯 Take profit 2: 0.223949
🎯 Take profit 3: 0.217795
Take in the vastness of mountains and seas; observe the market’s finer details.
Walk alongside Uncle Xiong and witness the gains and losses of the world.
#LSK
Click below to trade 👇
With both timeframes moving in sync to the downside, I’m inclined to view any rebound as a correction rather than a reversal. The cluster of moving averages overhead acts as resistance; as long as price cannot reclaim it, the structure remains bearish. The closer the rebound gets to resistance, the more closely we should watch the sellers’ response.
🔴 Trade direction: Short
📍 Entry range: 0.233898 – 0.234514
🛑 Stop loss: 0.242412
🎯 Take profit 1: 0.228052
🎯 Take profit 2: 0.223949
🎯 Take profit 3: 0.217795
Take in the vastness of mountains and seas; observe the market’s finer details.
Walk alongside Uncle Xiong and witness the gains and losses of the world.
#LSK
Click below to trade 👇