Burst $LSK +7.4% : Clean Uptrend Extension or the Next FOMO Trap?
My bias remains bullish on $LSK . The 1H, daily, and weekly structures are aligned bullish, so I’m viewing this +7.4% move as an extension of the existing uptrend rather than an immediate bull trap.
But chasing after a massive ~289% 24H rally is not the setup I want, especially while BTC remains bearish.
I expect price to digest this move first, with the 0.55–0.40 demand/FVG zone as the key area to watch. If that zone holds and buyers confirm a lower-timeframe market structure shift, bullish engulfing candle, or strong rejection, the next upside targets are:
TP1: 1.20
TP2: 1.33
TP3: 1.69
I would NOT chase around 1.04.
The better strategy is patience: wait for the pullback, watch the reaction at 0.55–0.40, then look for confirmation before entering.
Rising OI combined with negative funding could support another squeeze higher, but I want that confirmation after a healthy reset rather than buying directly into the spike.
Invalidation: A 1H close below 0.2234 would invalidate this bullish structure and shift my bias bearish.
Trade the setup, not the FOMO.
DYOR. Not financial advice.
#LSK #CryptoTrading #Altcoins #Binance #Crypto $LSK
My bias remains bullish on $LSK . The 1H, daily, and weekly structures are aligned bullish, so I’m viewing this +7.4% move as an extension of the existing uptrend rather than an immediate bull trap.
But chasing after a massive ~289% 24H rally is not the setup I want, especially while BTC remains bearish.
I expect price to digest this move first, with the 0.55–0.40 demand/FVG zone as the key area to watch. If that zone holds and buyers confirm a lower-timeframe market structure shift, bullish engulfing candle, or strong rejection, the next upside targets are:
TP1: 1.20
TP2: 1.33
TP3: 1.69
I would NOT chase around 1.04.
The better strategy is patience: wait for the pullback, watch the reaction at 0.55–0.40, then look for confirmation before entering.
Rising OI combined with negative funding could support another squeeze higher, but I want that confirmation after a healthy reset rather than buying directly into the spike.
Invalidation: A 1H close below 0.2234 would invalidate this bullish structure and shift my bias bearish.
Trade the setup, not the FOMO.
DYOR. Not financial advice.
#LSK #CryptoTrading #Altcoins #Binance #Crypto $LSK