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Nixtrading

Bitcoin: CrossroadsA 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 more favourable for the market. Pay attention to margin zones that are most effective in intraday trading. The bullish scenario activates once the recent pivot of 9616 is penetrated. The target in this case is 10 800 - 11 000.
BITMEX:BTCUSD.P
by Nickonomics
1
Bitcoin (BTC): Forming BottomIn 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 bullish divergence patterns. Besides, people are quite pessimistic now, which is great for buying. All key levels are drawn on the chart.
BITFINEX:BTCUSD
by Nickonomics
25
Bitcoins Breakout LevelsHere 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 with breakout patterns. Move SL orders to breakeven as soon as the market allows for. The volume is so low these days, that it takes a couple of big traders to control the market (trigger your stops). Correlations in the market are very tight, so you may find similar patterns in many altcoins.
COINBASE:BTCUSD
by Nickonomics
7
Bitcoin (BTC): The Wave SetupNothing 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 correction within a larger downtrend. A price drop below 7500 would confirm this scenario.
BITFINEX:BTCUSD
by Nickonomics
10
Bitcoin (BTC): Impulse Extension vs H&SIn 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 would be triggered too: The bear is back in play below 7400. In this case H&S pattern will be active. Patience is key.
BITFINEX:BTCUSD
by Nickonomics
10
Bitcoin (BTC): The Last FrontierThe 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 descending channel combined with the moving average; The bounce from April 29 took the form of a 3--wave correction; The Inv. H&S pattern will be invalidated below 7300. My strategy is to go short on the break of 7320 level. Key levels & bearish targets are drawn on the chart.
BITFINEX:BTCUSD
by Nickonomics
18
Bitcoin (BTC): Key Intraday LevelsNot 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 invalidated, and we will most likely turn bearish Volatility is almost non-existent these days. Breakout strategies are less effective than usually, mind that.
BITFINEX:BTCUSD
by Nickonomics
3
Bitcoin (BTC): The Fractal Is Working Thus FarIn 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 the upside bias. Also, don't forget about XLM as it is following the script.
BITFINEX:BTCUSD
by Nickonomics
11
Bitcoin (BTC): Fractal Trading - Mid April RevisitedIn 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. The price surge is identical, and the break of the trendline resistance confirmed the bull at that time.
BITFINEX:BTCUSD
by Nickonomics
13
Bitcoin (BTC): Finding the BottomIn 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. When this pattern emerged last time, the price plunged. This time the opposite is expected. Breakout from the wedge may serve as a trigger for longs.
BITFINEX:BTCUSD
by Nickonomics
12
Bitcoin (BTC): The Bear PlayPreviously, 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 then. Presently I would like to introduce you to the 'Bearish Play' scenario. It is based on a few simple factors: 1. Short-term trend is bearish. 2. The price put in a fresh lower high. 3. People are absolutely fixed on the Triangle wave pattern on the daily chart. It implies lower prices. The tipping point for me is this H&S pattern. It becomes invalidated below 8173, and its failure would shift the balance of power in favor of the sellers. So this is my short trigger. It should also be noted that the volatility has reached an extremely low reading. It is even lower than on April 12 when the price surged some 18% within a few hours. We should now be prepared for similar price action.
BITFINEX:BTCUSD
by Nickonomics
20
Bitcoin (BTC): Bullish Pattern on Extremely Low VolatilityIn 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 quite in terms of volatility. In fact, it is extremely quite (squeezed), because the average volatility now is even lower than on May 3 - just before sharp price moves occured. We should now be prepared for similar price action.
BITFINEX:BTCUSD
by Nickonomics
4
Bitcoin (BTC): Looking For Safe EntriesIn 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 bottom takes time. And a drop to 8100+ should still be considered. So, moving SL near breakeven as soon as the situation allows for it is an appropriate strategy." Currently, this drop to 8000-8150 is my preferred scenario . There is a bearish Butterfly pattern on the M30 chart (1.272/.707/.786/2.0), and also it is vital to form a bullish divergence to allow for a safer long entry. Besides, in this area the point D of the bullish Deep Crab harmonic pattern is projected. I will asses the test of this area in the updates. The second important support is 7760 area. The most secure way to enter longs is to wait until the downward price channel is broken. I appreciate your support.
BITFINEX:BTCUSD
by Nickonomics
13
Bitcoin (BTC): Buy LevelsIn 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 bottom are met. There is also a bullish Deep Crab harmonic pattern. Its formula is 1.618/.886/.382/3.14. So, there are two areas to go long: The optimal buy zone around 8150 (preferred); 8535 level that invalidates the Triangle and gives boost to the bulls. I appreciate your support.
BITFINEX:BTCUSD
by Nickonomics
16