Nickonomics

Nickonomics Updated 

Price has been coiling for quite a while, forming a triangular pattern. If this is indeed a wave Triangle (A-B-C-D-E), then new record prices are soon to come. Considering that main trend is rising, the possibility of breaking from the triangle upwards is higher. Yet, we should also take into account an alternative scenario, under which the break of $287 will...

Nickonomics

Just like in ETHUSD (see links), a triangular pattern is developing in Ripple. This one is more tricky, as the current wave count is bearish. It also aligns with a big bearish H&S top pattern. In any case, my intent is to trade this pattern using breakout strategy.

Nickonomics

Not much action in this market since my previous idea release: The market structure remains buillish. This chart details intraday levels. Use the pitchfork as the current price channel. Once price breaks it, expect more bullishness. More updates are due.

Nickonomics

The thrust from Wave (4) Triangle opens up a great trend-following opportunity in Lisk (LSKBTC).

Nickonomics Updated 

The current correction scenario with key price levels were outlined in my previous post - thank you for positive feedback. This time I have updated key levels, and would like to draw your attention to the pitchfork, which proved to be the best possible price channel for this short-term downtrend. As long as price stays within it, the correction is not over, even...

Nickonomics Updated 

My previous idea was a sell signal below $2540 with a first target @$2300.That was a pitchfork-based breakout setup: Now the market is rangebound in the short-term. To resume the longer term uptrend we need to break the $2650-2670 resistance, which aligns with the new Pitchfork. This correction phase may be extended if the key support of $2320 is broken.

Nickonomics

The breakout from Andrews' pitchfork @H1 chart suggested that the recent correction, which took form of an A-B-C pattern, has likely been completed: If we look at the bigger picture, we can see a strong uptrend (main trend) that is set to continue higher above $412. The correction from $412 to $265 is labeled as Wave (4), and there is a clear Reverse Divergence...

Nickonomics Updated 

Previous buy signals for Ethereum were quite successful (see links below). It all began here: Pay attention to how closely price followed these projected levels. Now my view is that this correction from ^ATH of $412 is likely to continue below $300. To resume the uptrend we need to break out of the pitchfork. Important price levels are drawn on the chart.

Nickonomics

My previous idea called for the completion of Wave /5/ as part of the impulse wave, which started on May 27. Now this market is in the correction phase. This correction may carry price towards $2320 area. Use the break of this pitchfork to confirm the wave structure.

Nickonomics

My previous bullish call (see the links) was successful: the price skyrocketed to new record levels. It is time to examine a short-term chart to determine whether there is more upside potential in this market. According to this wave count - there is. Wave /4/ structure looks corrective (even if it is not complete yet), and so the trend is set to continue higher.

Nickonomics Updated 

According to my wave model, the market formed an interim top @2760 as the conclusion to wave . This means another strong wave up is due to come, which will set new all-time highs. The corrective wave may have been formed with peak @1850. Actually, we can't be sure at this point, as this correction segement may be more complex. A decisive daily close above 2320...

Nickonomics

Since late May NEMBTC has been trading sideways. The main trend remains positive, but the short-term picture isn't that obvious: the Triangle pattern speaks of indecision among traders. It's not clear whether wave IV has been completed. In any case, I suggest employing the break-out strategy with triggers set @.7957 and .9499 levels (see chart).

Nickonomics

The previous wave setup worked out well - the price did hit the $240 target. Still, the wave structure looks incomplete. There should be another wave up with a minimum target of $254. The next resistance level stands at $273.

Nickonomics Updated 

Another push higher expected towards $240 after a pullback. All keys levels and efficient Buy Zones are drawn on chart.

Nickonomics Updated 

Two bearish Head&Shoulders patterns are developing on this hourly chart. There are two trigger lines, whose penetration can bring about new sellers. All major levels are drawn on the chart. **Short-term trend is actually Neutral (error)

Nickonomics

In my last post I anticipated the test of 1820-30 area to clarify short-term wave count. The price didn't reach 1820, putting a top @1815. As far as trading is concerned, I suggested going short on the brake of the pitchfork (you can see the label on this chart). This strategy worked well, as price slid from 1760 to 1682, where it found support @62% Fib. The chart...

Nickonomics

Unfortunately, my last post was blocked due to ads rules. It called for more upside above 1800 based on impulsive nature of the advance from 1601 to 1747. At this moment the price is likely to test 1830 level, and this area may be very important because its test could determine whether the market makes new all-time high or not. The difficulty is that we can't be...

Nickonomics Updated 

Wave analysis suggests that selling pressure may continue today and into the weekend. This wave count is bearish. We need more price swings to be completed to apply appropriate pitchforks, so stay tuned for updates. Most important levels are drawn on this intraday chart.