SUMMARY
Lisk (LSK/USD) made a beautiful five wave up last year (white) while also making a classic symmetrical triangle consolidation (blue) before moving up. The resulting ABC correction seems to be complete as well given that the red C waves has five distinct subwaves (blue).
The rise since the likely bottom of wave red C is occuring in a channel. This is usually indicative of an impulse status. The white 1,2,3,4,5 shows that 3 is still in progress. Could this channel also be called a bear flag? Yes. After wave 5 completes, there will be the requisite retracement whic will likely correct 0.5 to 0.618 of the rise; hence fulfilling the bear flag pattern. Look at the MACD...does it look like it's in a crash mode or breakout mode? Would you be taking buying or selling actions?
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