Don't let divergences throw you off—the breakdown is the main play. $LSK On the 4-hour chart, the moving averages are bearishly aligned, with price firmly capped by the EMA50 and EMA200. In this structure, any rebound is just handing the bears more ammunition. Volume hasn't picked up meaningfully, which shows the bulls can't mount a decent counterattack; every bounce comes on declining volume.
The key resistance is the cluster of moving averages above. As long as price doesn't close above it, the downtrend will remain intact. I prefer to position in line with the prevailing bearish swing rather than try to call a bottom.
🔴 Trade direction: Short
📍 Entry range: 0.185503 – 0.186227
🛑 Stop loss: 0.196300
🎯 Take profit 1: 0.178038
🎯 Take profit 2: 0.172820
🎯 Take profit 3: 0.164993
Take in the vastness of mountains and seas; observe the market's finer details.
Trade alongside Uncle Xiong and witness the gains and losses of the world.
#LSK
Click below to trade 👇
The key resistance is the cluster of moving averages above. As long as price doesn't close above it, the downtrend will remain intact. I prefer to position in line with the prevailing bearish swing rather than try to call a bottom.
🔴 Trade direction: Short
📍 Entry range: 0.185503 – 0.186227
🛑 Stop loss: 0.196300
🎯 Take profit 1: 0.178038
🎯 Take profit 2: 0.172820
🎯 Take profit 3: 0.164993
Take in the vastness of mountains and seas; observe the market's finer details.
Trade alongside Uncle Xiong and witness the gains and losses of the world.
#LSK
Click below to trade 👇