LISK vs Bitcoin - Insipid Sideways Movement To Continue For Now!

Today we are looking at Lisk vs Bitcoin to see what we find!

The MACD is looking to cross down below the signal line, though as you can see there is no real momentum behind this.

Aroon Up is at 42 and falling, whilst Aroon Down was recently above 50 but has now dropped below – and is continuing to fall lower. This does not indicate a change in trend, but simply shows us that prices are not moving lower. With the Aroon Up below 50 we are subsequently not going to move higher either. This suggests a continued period of consolidation sideways within the blue dashed channel.

RSI is at 45 whilst Accumulation/Distribution is pretty much halfway; both of these further supporting a continued sideways move.

Let’s have a look and see what our moving averages tell us. The 200 EMA has crossed above the 50 EMA in a bearish fashion on 15/04 and we are currently trading well below both of them. We have tested the bottom of the channel multiple times and have actually found some solid support at close to half way up the channel as indicated by the dashed green support line.

Looking at the EMA 12 (orange) and EMA 26 (blue); we almost had a bullish crossover on the 24th of April, however the bears ramped up the down pressure in terms of volume and prevented this from occurring. We are not currently trading below both EMA’s which are acting as resistance.

So where to from here? For now we have both some solid support directly below and solid resistance directly above us. Our indicators suggest a continued move sideways so there are not a lot of trade opportunities. I am neutral on this one and won’t be trading until our indicators give us some more information. I will however; endeavor to post an update on which way we are looking to go when we have some more indication!

Cheers