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Lisk/Bitcoin (LSK/BTC) Approaching Key Support Area

LSK/BTC has been on choppy swings as we can see on the daily chart. A bullish swing in the first half of November was followed by the current bearish swing in the second half of the month.

LSK/BTC Daily Chart

  • The daily chart shows that price is approaching a triangle support as well as other common support pivots. 
  • I would not try to catch the current dip for 2 reasons.
  • 1) It still looks like a falling knife.
  • 2) Since June, bearish cycles in LSK/BTC have lasted about twice as long as bullish ones. 
  • While price looks good around 60000-63000 satoshis, it might be premature in terms of timing to enter a buy until possibly the second half of December.
  • But then the holiday season is likely to "mess" the cycles. 
  • Still, I just wanted to make sure include the timing perspective. 
  • I would like to monitor price around 62000 more before making a trade plan.

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