Nickonomics

Nickonomics Updated 

Previously, we made a bold attempt to short BTC with a tight stop of 3%. It was unsuccessful: Bitcoin futures debut at CBOE was grand. CBOE's website went down just at the launch, and the exchange had to halt trading twice to 'inhibit' the bulls. Currently the futures (XBT) are trading at 17 680 (+14.35%) - higher than Bitstamp and Coinbase prices. This contango...

Nickonomics Updated 

Previously, we were looking to capitalize on the next leg of correction, which began on Dec 8. It was likely to take the form of either Flat (3-3-5) or W-X-Y 0.68% (3-3-3), and push the price down to $12 800 and below. Price hit the target quite fast: Now, as correction has been confirmed, the price should drop to the next target of 12 000. Watch the minor...

Nickonomics Updated 

Previously, we entered a long position as part of "buying the dip" strategy. The trade was marginally succesful, as it didn't reach the second target of $16 147: Forecasting This time we are looking to capitalize on the next leg of correction, which began on Dec 8. If this correction progresses (yet to be confirmed), it is likely to take the form of either...

Nickonomics Updated 

Bitcoin price dropped nearly 20% today. And yet, the uptrend remains intact with 15743 and 16147 being first targets. The correction took the form of a Flat (3-3-5). When the price broke beyond the pitchfork, it triggered my buy orders.

Nickonomics

Which could be a more profitable alternative to holding BTC now? I suggest paying attention to Monero (#9 by mkt cap). A classic bullish Triangle pattern is developing here. There are two approaches for trading this setup. The first is more risky and suggests going long on break of the trendline at 0.0193. The safer setup is going long on break of 0.020.

Nickonomics Updated 

Previously on the show, we opened long positions anticipating new all-time highs. This turned out to be a solid deal from $8243 to $9300. Presently, BTC is sliding downward. We anticipate a deeper correction and keep $8500 in sight.

Nickonomics Updated 

Previously, we opened a short position @8170, which was supported by a bearish triangle breakout: The price dropped 3.6% and reversed @7890 support. Depending on timing, some traders took a profit or closed out @breakeven. We now have to adjust to market conditions and get ready to go long BTC for new ATH.

Nickonomics Updated 

In the previous idea we identified a bearish chart pattern that is called Ending diagonal triangle (Elliott Wave Theory). It required a move above 8270 to be completed, and so we suggested the target of 8440 (nearest fib cluster). The price did make a new high @8354 but couldn't go higher. Currently, I suggest 8170 as an entry point to go short (conditional...

Nickonomics

Previously, we initiated a short position @8170 based on a Ending Diagonal pattern: It may still be viable, but I ought to inform you that the overnight price action has clearly triangular nature. That means, that the break of 8300 will most likely lead to 8440 and higher prices.This would be the BULLISH TRIANGLE scenario presented on the right chart. If we do...

Nickonomics Updated 

Previously on the show, we were expecting a pullback in BTCUSD: It did pull back just a little bit, but there's more to come. Under my wave model, the price should mark a new high around 8440+. This would complete the ending diagonal pattern and let us short this high-flyer. Alternatively, if the price breaks below 7700, the ending diagonal would most likely be...

Nickonomics Updated 

Previously, we anticipated a correction from $7200 to at least $6740: Notice just how accurately the price reversed from POC level on this chart @5684. Now it's time for another pullback, the conditions are met. There are two resistance clusters: the first @8070-8090 and the second @8440. You choose where to short. I recommend to apply postion management tools,...

Nickonomics Updated 

It's been a while since I published BTCUSD signals. The market was quite predictable moving to the upside. This was the previous bullish call: This time I anticipate the correction to continue down at least to the pitchfork handle. This should make for some 6% deal (BTC->USDT). The market was clearly in overbought condition yesterday, and the bearish divergence...

Nickonomics Updated 

In my previous idea I warned against selling bitcoin unless it breaks below the key support @5420. I also pointed out that there is still possibility for another all-time high under extended 3rd wave scenario. This scenario is outlined on the chart. The break of $5500 should serve as a stop loss.

Nickonomics Updated 

Previously, I called for a pullback within the rising trend with some 6%+ profit potential. The trade was a winner: The question, whether a cyclical top was formed @6180 is still on the table. To my mind, we need to see the price break beyond this minor pitchfork to confirm a larger correction is under way. That is, the break of $5420 (roughly) signals more...

Nickonomics Updated 

In my previous idea I suggested buying BTC under simple trend following strategy. This approach proved successful: This time we are looking for a pullback, or possibly, a cyclical top. This task is very difficult taking into account the strenght of this trend and all the hype in crypto community. Still, there are 5 waves in place and the price reached the top of...

Nickonomics

ETH is expected to drop further with $275 being the first target. The move from $201 is $349 is seen as complete A-B-C correction, and that supports the bearish case. Also, the price broke below the pitchfork channel, and that serves as confirmation.

Nickonomics

The previous idea was an intraday short setup: This one is similar: we aim to complete a 5-wave structure with some 7-8% profit potential.

Nickonomics Updated 

A massive sell-off in Bitcoin today caught some people by surprise. My goal is to present a specific criteria for trend change in this market. In my view, the break of $4236, which is a cluster of the pitchfork trendline and an important fibo-level would lead to more selling and confirm that the market is in a correction mode. Downside targets are drawn on the chart.