Nickonomics

Nickonomics

The Diagonal pattern from the previous post has developed differently than we anticipated. However, our forecast of a move to new lows proved accurate. With the bottom now likely taking shape, it's time to switch to the buy side.

Nickonomics Updated 

On the D1 chart, a Diagonal is likely forming. Its standard target is 1514-1496. On the smaller H4 chart, a downward impulse from 1669 to 1567 has formed, followed by a Flat in wave b. This aligns well with the Diagonal. Doubts about this scenario will arise if the upper boundary of the D1 Diagonal is breached.

Nickonomics

A nearly pristine Triangle is emerging on the D1 chart. It meets the minimum requirements for completion, as indicated by a bearish signal on the H4. The pattern's standard target is 195. Note that it is part of an impulse from the 261.7 price level, which is nearing completion.

Nickonomics Updated 

A series of lower highs and higher lows over the last ten days indicate the Triangle pattern has been formed. The thrust to the either side is imminent - and you don't want to miss on this next trending move. The chart to the left is the bearish scenario, in which price will plunge to the 8500s area (-200 margin zone). To my mind, it is more probable and actually...

Nickonomics Updated 

Two major patterns in play: 5-week Inv H&S and 12-week Triangle. The former invalidates @9360, the latter - below 9100. Risk-reward ratio for buyers is very decent. The safest entry is to buy when the channel line is penetrated.

Nickonomics Updated 

In the previous idea we anticipated price drop to 5876 as the downtrend developed: Currently, there are a couple of technical factors that suggest the bottom has either already formed or is very close to it: There are complete 5--wave impulses of minute and minuette degrees on the chart; A nice long-legged Doji supported by a spike in volume; Clear...

Nickonomics Updated 

Here is my take on breakout targets for both Bitcoins. A couple of things to consider: BCH is stronger now, so if you're going long, consider BCHBTC for more gains. The pattern is BCH is of greater quality, looks more safe, whereas a downside breakout in BTC may lead into the pattern's broadening. Be sure to apply aggressive money management when working...

Nickonomics Updated 

Nothing is happening in the market: volatility has become extinct and coins' trading fallen out of fashion. Range-bound bots and robotic humans absolutely prosper in this environment. The price was unable to break the 7700 threshold. For me this is a bearish signal. Indicators provide mixed signals, so let's examine wave structure. The move from May 29 is a 3-wave...

Nickonomics Updated 

In the previous idea I laid out a plan to go short below 7320 key level. The price didn't go down that much and nothing was triggered. Now ought to consider both the bullish and the bearish scenarios and apply the breakout strategy. The Bull is activated on break of the 7700 crucial resistance. In this case impulse extension is quite probable. Bitcoin Cash setup...

Nickonomics Updated 

A bullish Flag pattern is emerging in BCH. Break of 1150 will serve as the trigger. It is support by: Short-term uptrend Reverse divergence pattern

Nickonomics Updated 

The market takes no particular interest in trading these days: the volume is very low, volatility - non-existent. No wonder nothing has happened since the previous update. Still, this anemic price behaviour suggests that the bottom might not have formed yet. There are a couple of technical bearish considerations: The price failed to break resistance of the...

Nickonomics

Not much has happened since the last idea was published. We're still working with the Inverse H&S pattern, and currently the price is testing its neckline. The pullback may unfold further, so I draw a couple of important support levels: 7500 is the key point of control 7320 is the right shoulder level. If the price breaks below, the H&S pattern is...

Nickonomics Updated 

In the previous idea I presented the H&S bottom scenario. It's been working out nicely so far: At this point the price has broken out from the descending channel. Many Inv H&S patterns are present on altcoins' chart. Volatility remains extremely low, which suggests that big plays are yet to come. If the price retraces below 7200, I will turn bearish again.

Nickonomics

Inverse H&S pattern is emerging on Bitcoin chart. To my mind, this is the most probable bullish scenario. 7100 is the invalidation level.

Nickonomics Updated 

Stellar has taken quite a beating since its Bitfinex debut. Now, as Bitcoin has entered into big support area, I percieve this top-10 currency as a bargain. There is a large Falling Wedge pattern accompanied by bullish divergence and record low volatility reading. 40%+ growth potential is no joke, so let's consider grabbing some XLMs.

Nickonomics Updated 

In the previous idea we identified a bullish fractal - price behaviour identical to early April. Today the price broke from the channel confirming the setup. From the trading perspective, I was lucky to indentify optimal buy points on a pullback: Currently, there are two target zones for buyers, drawn on the chart. Oscillators and moving averages have confirmed...

Nickonomics Updated 

In the previous idea we defined the breakout from the wedge as a trigger for going long. It worked out nicely pulling the price from 71xx to 7560: Now that the price reached the channel resistance, we wonder if the bottom was indeed formed. To confirm this I would like to see the break of the channel (7670 area). This setup is very similar to early April days....

Nickonomics Updated 

In the previous idea we defined the current reversal zone as 6950-7100. Overnight the price dropped to 7040, triggering some limit orders: I still expect the bottom to be formed in the next couple of days. There a couple of technical readings to consider: Key Support Area Bullish Divergence (RSI, MACD) Falling Wedge pattern Volatility Squeeze Pattern....