Nickonomics

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....

Nickonomics Updated 

In the previous idea we had cast a near-perfect 'Bear Play' with price dropping from 8290 to 7200: I expect the bottom to form in the next couple of days. The current reversal zone is 6950-7100. Of course, we cannot rule out a price squeeze, so I will also place an alternative buy order at 6620.

Nickonomics Updated 

Previously, I examined a Head&Shoulders bottom pattern that was intended to carry prices up to the 9000 area. However, when the price entered the buy zone (~8380), doubts kicked in. It became obvious that bearish triangular patterns are forming in the leading altcoins, namely Ethereum and Ripple. So the trade was put on hold. Not much has happened since...

Nickonomics Updated 

Ripple is absolutely great when it comes to breakout pattern. Here we are presented with two possible scenarios: 1. The break to the downside (7-11% potential) implies the formation of a standard 5--waves Triangle; 2. The break of 0.70 pivot area will pave the way to 7708-7800 (9.5% potential). This would imply the formation of Inverse Head&Shoulders pattern....

Nickonomics Updated 

In the previous idea we were looking for safe buy opportunities. The breakout long trigger had been attached to the trendline, and the price broke it @ 8200. Then it took some time for a classic bottoming pattern to emerge (H&S). This breakout trade was best exploited in TRON: Currently, the standard H&S target is 9018. Short-term trend is now 'Sideways' and is...

Nickonomics Updated 

A nice breakout setup is brewing in TRON/USD. In most cases, this kind of Triangles resolve to the downside. So, this is the preferred scenario. Still, at this point we cannot confirm this Triangle as a 5-point pattern yet, so I'm also preparing orders for a bullish scenario. All keys levels are drawn on the chart, we're setting for a ride.

Nickonomics Updated 

In the latest update I defined two support levels aka bears' targets at 8020 & 7780. The first was hit overnight: Overall, since early May there were no safe entries for buyers. Now we are looking for one in the 7800 area. Important levels are drawn on the chart. If the price doesn't drop down there or should this zone be breached, the safest entry is to trade...

Nickonomics Updated 

In the previous idea I identified the optimal buy zone in the 8150 area and a minor long triger at 8535. The latter gave boost to the bulls, which triggered some bullish H&S patterns in altcoins (ETH, XRPBTC, QTMUSD): In the latest update I warned against being agressive in this environment: "One should be very careful trading this patterns, as forming a major...

Nickonomics Updated 

In the previous ideas I specified two target zones for the bears: 8620 & 8210. "Currently, I have little doubt that the price will drop below 8650 within a week or two, so the question is where to go short": The main target of 8210 was reached yesterday, and now the price is coiling to form a Triangle just above this level. Conditions for at least a short-term...

Nickonomics Updated 

Bitcoin has been trading sideways for the last three days. In the previous update we were anticipating a move to 9600. The price may still be on its way there, but we need a confirmation to be on the safe side. The confirmation criteria to go long now is the break of 9365 level. Meanwhile, volatility has droped to the lowest level since May 3 - the day when the...

Nickonomics Updated 

The price of Bitcoin hasn't changed much since my previous idea: I still expect it to reach 9600+ before reversing for a deeper correction. This time, though, I would like to present you with my wave count for the short-term trend. The 5--wave nature of the bullish advance is pretty much obvious, and should be followed by a 3--wave correction. Its first leg began...

Nickonomics Updated 

The previous update: The assumed Triangle wave pattern failed, giving another boost to the bulls. The way to 10k seems to be open The price did hit the box, and then retraced sharply. Given the clear bearish divergence pattern on H4 and Daily charts, I expect the correction to continue to the specified targets zones. But before the price is likely to test the...