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Ghostsquawk

Litecoin at SupportThe Litecoin price action appears to be rounding off, but we seem to still be having good support from $134. We have made an attempt at the $140 handle again, but have swiftly rejected this and retraced to support at $134. Broadly, we could be seeing a head and shoulders type pattern forming. If we break down, then we should see support from $130, then $124. The Kovach OBV is still strong, so watch for LTC to make another attempt for the $140 handle. We are looking at $141 or $147 for targets here
BITSTAMP:LTCUSDLong
by quantguy
2
Bull Wedge in Stocks!!Stocks remain range bound by 4431, but it looks like we are forming a bull wedge with the upper bound just south of this level. Levels from below have been holding for over a week now at 4380, and we are currently seeing higher lows, and consolidating volatility. Price action seems to be consolidating around 4408, which appears to be a POC. The Kovach OBV is flat for the moment. Ideally, we would have a bull divergence here to anticipate a breakout. If we are able to break out from 4431, then 4462 is our next target. If not 4380 should continue to provide support.
FX:SPX500Long
by quantguy
Will Support for LTC Hold??Price action in Litecoin has rounded off and we are finding support now at a technical level at $134. We have dropped quite a bit from highs just above $147. We will see if $134 provides support, but if not we should see some support from $130. After that there is a vacuum zone down to $124. The Kovach OBV is drifting downwards so there is a slight indication we may see a breakdown from here. But if not, LTC could establish value in the $134 to $141 range.
BITSTAMP:LTCUSDLong
by quantguy
1
Ethereum Breakout Soon??Ethereum has formed a very narrow range just under $2556. We have support from below at $2454. This consolidation of volatility will almost certainly precede a breakout. If we break to the upside, we must still contend with $2651. If weakness persists and we break down, then $2400 will provide support, but there is a vacuum zone to lower levels after that to $2324. The Kovach OBV has dipped sharply with the selloff and is looking a bit weak at this point, so we expect weakness in Ethereum to persist a bit longer.
BITSTAMP:ETHUSDLong
by quantguy
1
Bitcoin Finding SupportBitcoin has pressed down through a vauum zone from $40K down to $37.7K. This is the exact level we told you we would see support. If support does not hold, watch for $36.7K, but if that doesn't hold there is a vacuum zone back down to $34.9K. The Kovach OBV was once strong, but has drifted back down as the price has fallen. If we are able to find support here, then watch for BTC to establish value between $37.7K and $40K. If we can break out from here, watch for $41.9K and $45K as our next targets.
BITSTAMP:BTCUSDLong
by quantguy
Breakout in Stocks??Stocks are continuing to range. They have held the range between 4380 and 4431 for over a week. As we mentioned yesterday, the S&P 500 found support at the lower bound and has tended back to the upper bound, sitting just a few ticks below the upper bound at 4431. We will see today if stocks can finally muster the strength to break this level and acheive new highs again, or if they will continue to range. If we are able to break the range today, then 4462 is the next target. If we break down we will have further support from 4364 and 4350.
FX:SPX500Long
by quantguy
Ethereum Retraces!!Ethereum formed a top at $2651, and appeared to be forming a bull wedge looking to break higher. But it rejected the this upper level and has since retraced significantly. Currently it is finding support at $2442 or so, just above our significant technical level at $2400, which will provide further support if current levels do not hold. The Kovach OBV has dipped sharply, confirming the selloff. At this point, this should be considered a reasonable retracement and perhaps a corrective impulse of a 5-3 Elliott Wave. This could take us as low as $2324, before we can expect another burst of momentum.
BITSTAMP:ETHUSDLong
by quantguy
2
Bitcoin Rejects $40K!!Bitcoin seems to have rejected higher prices for now, retracing back below the $40K handle. It appears that the $40K's were too much for BTC to hold for now, and as we suggested in yesterday's report, it found support exactly at $37.7K. Currently it is catching a bit of support confirmed by a green triangle on the KRI just above $37.7K. The Kovach OBV has started to drift downwards, but it does not indicate the momentum of a proper crypto dump. If we do see the selloff continue then $36.7K and $34.9K will provide further support. If we can see more momentum, then we should be able to regain the $40K handle.
BITSTAMP:BTCUSDLong
by quantguy
Stocks Continue to RangeStocks are continuing to range in their sideways corrective pattern. The S&P has been holding the range between 4380 and 4431 for over a week now. We rejected the upper bound yesterday, as we anticipated, which would have made for a nice mean reversion trade. Indeed, the S&P retraced the entire range, finding support at the lower bound. It is currently testing 4408, so watch for momentum at open to determine if we can test 4431 again. If so, the next target is 4462. If not, we should find support again at 4380, 4364, or 4350.
FX:SPX500
by quantguy
Litecoin Rounding OffLitecoin broke $147, but immediately rejected this level, falling back to support in the upper $130's, but appears to be making another run for $147. We broke $141 again with ease, but momentum appears to be petering out right now, as LTC establishes value between $141 and $147 again. The highs are rounding off, which may further confirm the loss of momentum. The Kovach OBV still appears strong, however, so watch $147, as this is the level to break before we can consider higher levels. There is a vacuum zone above to $158, which is our next target. We will find support from $141 and $134 if these levels don't hold.
BITSTAMP:LTCUSDLong
by quantguy
1
Sideways Correction for ETHEthereum has shown great strength, solidly breaking $2400 which was once a significant upper bound. We met resistance at $2651, and are currently holding a sideways corrective pattern with the lower bound at $2556. We could be forming a head and shoulders pattern with the neckline at $2556, so be careful of the vacuum zone below back to $2400. But the Kovach OBV is still strong, suggesting that the bull run may not be over for ETH. If we are able to break $2651, then there is a vacuum zone above back to $2965. Then the next challenge for ETH will be breaking into the $3K handle again.
BITSTAMP:ETHUSDLong
by quantguy
1
Bitcoin Retraces!!Bitcoin tested $41.9K over the weekend, but we were unable to break this level and we retraced back to $40K. Currently, we are finding support just under $40K, which will now provide resistance. There is a vacuum zone below to $37.7K, and immediately after that we will find further support from $36.7K. The Kovach OBV has dipped slightly to reflect the retracement, but is still relatively strong. If we are able to muster the strength to best $41.9K, then our next target is $45K
BITSTAMP:BTCUSDLong
by quantguy
1
Litecoin Breaks Down, Finds SupportLitecoin peaked just above $141, before rejecting this level and heading back to safety in the $130 handle. It seems that $141 is still the hard upper bound, and $134 is currently providing support. The Kovach OBV was once quite strong, but appears to be dipping slightly to reflect the selloff. However we have two green triangles on the KRI suggesting we are finding good support at current levels. If these do not hold, we should find further support at $130
BITSTAMP:LTCUSDLong
by quantguy
2
Ethereum Breaks Resistance, then RetracesEthereum broke the technically and psychologically significant $2400 level before sharply rejecting the move and heading back to safety in the $2300's. We are currently finding support at $2324, which was the upper bound of the range from which it broke. We have added this level to the chart as a new technical level. Watch for ETH to range in this zone. The level to break is still $2400 and it appears we aren't quite ready yet, though the fact that we were able to do so even briefly is a good sign. If we are not able to hold current levels then $2232 will provide support.
BITSTAMP:ETHUSDLong
by quantguy
2
Bitcoin Breaks Down!! 📉Bitcoin has broken down from a pennant consolidation pattern. We are currently finding support at $38.4K which could mark the formation of a new technical level. It appears that BTC is just not ready to break through the $40K boundary which has proven difficult for it and remains a hard upper bound to its recovery. If we can't sustain current levels, we will find further support in the mid $30K handle at $37.7K and $36.7K. If we can muster another burst of momentum, then $40K is still the level we must break to confirm that we are back to bull mode
BITSTAMP:BTCUSDLong
by quantguy
Stocks Trade SidewaysStocks rallied yesterday hitting our profit target to the tick before retracing back to the bottom of the range. The S&P seems to be in a sideways corrective pattern at the moment, finding good support at the bottom of the range at 4380. The Kovach OBV has dropped notably, so we will see at open if we have enough steam to hold the range. If so, expect a retracement at least to the mean at 4408 or so. Otherwise we will find support at 4364 and 4350. Our next profit target is 4462, which is garnered from the Fibonacci extension level of Fibonacci retracement levels anchored at the current range
FX:SPX500Long
by quantguy
1
Breakout for Stocks??The S&P 500 continues to range in a sideways corrective pattern. After its recovery from the dip and making new highs, this is a perfectly reasonable behavior and suggests that stocks may be gearing up for another breakout. We have held a very narrow range between 4389 and 4410. The more constrained the volatility in stocks, the more likely we are to see a breakout and today may be the day. Our next target is 4431. If we fail to breakout or continue the range, then 4380 or 4364 will provide support.
FX:SPX500Long
by quantguy
Litecoin Gainining Strength!! 💪💪Litecoin has returned to relative highs just under our level at $141. It appears to be forming a clear affinity for this upper bound, in a clear bull consolidation pattern. We are seeing higher lows, and the Kovach OBV is trekking up, building strength. We could be looking at an imminent breakout. If so, $147 is the next target. If we fail to breakout today, we could continue the consolidation pattern further, and $134 and $130 will continue to provide support.
BITSTAMP:LTCUSDLong
by quantguy
1
Ethereum Consolidating!! Breakout??Ethereum is drifting in the vacuum zone between $2232 and $2400, forming a bull consolidation pattern. The Kovach OBV is flat, but if Bitcoin breaks out, momentum will surely carry through to Ethereum. We still must break $2400 to be solidly considered bullish and the next major level is around $2.5K. if we can break through to the upper $2.5K handle then we will be solidly bullish, but this is the make-or-break for Ethereum, and the crypto market. We will see if the bull run has returned or if we will dump back to lower support levels in the lower $2K handle perhaps today, but surely this week.
BITSTAMP:ETHUSDLong
by quantguy
1