NKLA Update - 4 Hr Chart Bullish

Moorsc0de Updated   
NASDAQ:NKLA   Nikola Corporation
Price action is showing signs of consolidation, but still bullish. Price is expected to rush to 2.24, but I think it is going to trade sideways for a period of time. In the event of bad news there is the chance price goes to 76-78 cents as an extreme bottom. Until then I think price has shown support at 1.34 mark and trades sideways before rushing upwards to the 2.24 target and then we can explore additional action. In the event we break 1.34 to 1.27 and go downside then the 76-78 cents may become a reality. However due to the major harmonic to the far left- it is a bullish formation which is why I tend to think this also support bullish movement over time. So lets observe price holding in the green parallel trend and then following upwards in the orange parallel trend.

Consequently these are the exact same intermediate harmonics BTC is showing on the hourly- very strange, but BTC has already shown its breakout. Lets see if NKLA can do the same.
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Price broke below 1.34 , however this may be a fake to the downside before swift rally back up into the channel.
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Didnt get the support.. looks like the original call of 78 cents support is in play for now without a dramatic pish to the topside to 1 dollar.
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believe it ornot still holding on this- its only been consolidating since this chart was made, and its finally showing signs of a pattern developing and hopefully to breakout.
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If price can get over 1.04- it should be very promising for upside potential. Anything below 94 cents would signal a enduring bear pattern- if there was no immediate and strong reversal back above that point.
Time for NKLA to make a move here. I am going to post a new chart.. crab pattern is ready to bust lose upside. It keeps hitting the final point and catching resistance though.
i said I was going to post a new chart, but the price action is just horrible on this stock. I have to see something over 1 dollar to event warrant putting something up. I can see the pattern and it just wont push up tot he bullish point- keeps rejecting. Anything below 94 cents and I am just going to dump it and come back later. NKLA is just being stubborn.

Moorsc0de aka Crypt0nomics aka Zaphkiel

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