The highly anticipated LISK rebranding event has passed away and the question remains: to hodl, to sell, or do nothing?
According to the Elliott Wave Principle, the current situation is still in favor of another wave higher, but first, the correction must complete. The first level for the corrective leg dow might have been reached at the level of $23,55 which is a 1:1 correction of waves (a) and (c). Nevertheless, the drop might extend towards the level of $23.03 and then $21.07. In the extreme situation, the last target projection is a zone between the levels of $18.31 - $17.08. This is where the first upwards wave might start to unfold. Please notice the corrective cycle might get more complex and time-consuming than a simple (a)(b)(c) correction.
评论
⋅
Watch the support at 18.31. This is the first target for bears.
Interesting...I know we are looking at charts but if you factor in what typically happens after these rebrands along with the market in general I can see it going as low as 20 and then taking back off slowly and with some retracing. I appreciate the Elliot waves...the charts show two possible positions for support IMO. One is around 24 and the other is at 18 or so where you had your last target zone...maybe selling the rumor and selling the news. Let it drop...if it goes under 20 I may get some around 18 or so. I was already in at $6 so I was in four months or so ago after in dropped around the Nov conference and it came out nicely. Long term I expect it to go way up...but it may take some time.