$NU new targets and timeframe analysis $.93-$3 by Nov?
Updated
Updating my analysis one more time based on price action and my updated view on alts and BTC.
What's hard for me to assess is how high
NU goes. There's essentially two scenarios that I'm weighing right now. For either outcome to take place, NU needs to get above the $.65 green line for price action to turn bullish. After that, then there are two separate scenarios that I'm looking at:
Scenario 1) I could see price moving really quickly once breaking $.65 to break the ATH at $1.14. If this happens, I think the most likely scenario is for price to surge up to $1.46, consolidating back to around the $.87 range, and then making another move higher towards the $3.07 range as the final high in Mid Oct/Nov. This could all happen very quickly, just like the move did in Feb.
Scenario 2 (less bullish) I could see price breaking the $.65 level and then not breaking the ATH high - price moving somewhere between $.98-1.10, and setting up for a longer term lower high on the chart, which would send price lower over the long-term.
In either scenario, I'd see price action playing out before November 9th - the last pivot on the chart. I've marked key dates for changes in price action and currently looking at the week of Oct 18th for a cycle top. I've also marked off important resistance levels on the way up.
If any interpretation changes, or as we get updated price action, I'll update in the comments below.
What's hard for me to assess is how high
NU goes. There's essentially two scenarios that I'm weighing right now. For either outcome to take place, NU needs to get above the $.65 green line for price action to turn bullish. After that, then there are two separate scenarios that I'm looking at:Scenario 1) I could see price moving really quickly once breaking $.65 to break the ATH at $1.14. If this happens, I think the most likely scenario is for price to surge up to $1.46, consolidating back to around the $.87 range, and then making another move higher towards the $3.07 range as the final high in Mid Oct/Nov. This could all happen very quickly, just like the move did in Feb.
Scenario 2 (less bullish) I could see price breaking the $.65 level and then not breaking the ATH high - price moving somewhere between $.98-1.10, and setting up for a longer term lower high on the chart, which would send price lower over the long-term.
In either scenario, I'd see price action playing out before November 9th - the last pivot on the chart. I've marked key dates for changes in price action and currently looking at the week of Oct 18th for a cycle top. I've also marked off important resistance levels on the way up.
If any interpretation changes, or as we get updated price action, I'll update in the comments below.
Note
Seeing an inverse head and shoulders setting up on smaller timeframes (1D + 2D) and it looks similar to the bottoming pattern that took place in Dec- Feb before the market went higher. The neckline is at $.41-42. A decisive break and close above that level should send NU much higher.It's looking like the Oct 18th pivot won't be the top based on where price is currently at relative to that date, but that could be the breakout that sends
NU higher.Will keep updating as I see more.
Note
Okay, it looks like scenario 1 is playing out/did play out. I personally took profits at $1.46 (I had set sells at that level already). I'm looking for a retrace down to $.59-.67 before reentering NU. I think we will eventually see the $3.07 price from here but I think it may take a couple of months to play out. My analysis of BTC has it going lower from here and I think that the October 18th pivot could be the pivot that then sends the market lower from here into November/December timeframe. If this does play out, the next pivot I have is December 6 (which would likely be a bottom)
Will watch over the coming weeks and likely create a new updated chart. Really we'll have to see what the market wants to do next week and the following weeks before I'll be able to tell better timing and targets.
Note
Welp... looks like NU just wants the $3 target instead.Note
Hit support at .88.Let's see what happens from here. I lean towards a retest of $1.44-2.08 and if it can break that level, it's going up to the $3 target. If it can't then I think we're headed to $.67 before moving up to $3. We'll have to see how price reacts to that range. Stops at $.87
Note
Looks like the first idea from Oct 15 is playing out to me. I'm fully out of my position. "I personally took profits at $1.46 (I had set sells at that level already). I'm looking for a retrace down to $.59-.67 before reentering NU."Note
Reentered. Looks like NU wants higher.Note
Exited again... doesn't look like it's quite ready. Will relook around the 14-15.Note
Next important levels to watch: $.67 - $.556. Will likely see a bounce in that range. Same idea as what I wrote on Oct 15thNote
Got the breakout. I'm looking to get into a position on a retrace to ~$.98Note
After looking at the charts again, that move looked like more of an exit pump. Still going to wait for a retrace to $.67 before enteringNote
I want to entertain a bullish scenario.I have the next daily pivot on the 28th and one after that one the 6th.
There is a possibility that we see a last impulse higher between those dates. The three scenarios that I'm entertaining are:
1.
NU goes and retests the highs and tops out around $1.97 forming a double top and then falls further back to the $.50 range.2.
NU goes and retests the 50% retracement level around $1.46 and then afterwards falls further.3.
NU sees it's final leg higher to $3 between those two dates and then goes into a bear market afterwards.I'm not sure which one we'll get... but I will likely enter a position prior to that pivot and then update this as I see price action play out.
Note
The other possibility is that we reject $1.13 and then continue lower. Either way, wanted to lay out the different scenarios I see possible.
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