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Bull Consolidation Pattern for ETH!!Ethereum caught momentum off the pivot level of $2143, and smashed through the next level at $2232, though unlike Bitcoin, it did not have enough steam to recover highs at $2400. It does seem to be forming a bull consolidation pattern and if the renewed exuberance in the crypto market can sustain, it may breakout to test $2400 again. After that, there is a vacuum zone to $2556. If this fails, then we will see support at $2143, and $2087. The Kovach OBV is flat for now, so it could go either way.
BITSTAMP:ETHUSDLong
by quantguy
1
Bitcoin Breakout Soon??Bitcoin retraced 50% of the Amazon rumor move, but even after Amazon confirmed it will not be taking crypto payments, it has returned to test the extremely significant $40K handle. This is a significant psychological level, and was a barrier to BTC for some time. The Kovach OBV has turned up sharply with this momentum, and we could be on the cusp of a breakout. We have two levels above that will provide immediate resistance, but after that it should be smooth sailing to $45K. If not, lower levels at $36K should hold.
BITSTAMP:BTCUSDLong
by quantguy
Stocks Due for a Breakout??After making new highs, stocks are trading sideways, which was our prediction from before. After recovering from renewed Coronavirus panic, the S&P had a V-shaped recovery and made all those losses back and then some, making new highs. It is reasonable for stocks to range or retrace after such a move. We should continue to see support from 4389 and 4380 but if not 4364 or 4350 should hold. Our next target is 4431. The Kovach OBV has dropped precipitously, suggesting that we will at least see more ranging at these levels before another burst of momentum.
FX:SPX500Long
by quantguy
1
ETH Breaks $2400!! Finds Support from BelowEthereum showed very strong momentum and was able to peak above a significant level before retracing. Indeed $2400 seems to be a significant barrier for ETH but it is a good sign for bulls that it was able to break this level even just for a brief moment. A red triangle on the KRI confirmed the resistance. After this, ETH retreated back to comfort and support at $2143. The Kovach OBV is still strong but does appear to be rounding off. This suggests that current levels should at least hold for now, though if another selling wave comes through, we will have support in the lower $2K's. Watch for ETH to establish value in this price neighborhood.
BITSTAMP:ETHUSDLong
by quantguy
Bitcoin Tests $40K!! What's Next??Bitcoin topped out breaking just above $40K, before facing steep resistance marked by a red triangle on the KRI, and was swiftly batted back down to support at $36.7K. This marks a 50% retacement from the rally off the Amazon news. This is somewhat of a make-or-break for Bitcoin and by extension, the entire crypto market. If BTC is not able to hold these levels, we could see a full retracement of the entire move. However, the fact that we were able to break $40K, even briefly, is a good sign. The Kovach OBV does appear to have topped out, suggesting that we could be due at least for some ranging. after such a move, BTC is bound to try to find footing in its new price territory.
BITSTAMP:BTCUSDLong
by quantguy
Stocks Make New Highs!! What's Next??Stocks have broken out again to make new highs. We have fallen just short of our profit target of 4431. We have a cluster of red triangles on the KRI, indicating that the S&P is running into some resistance. We will see if it gets another burst of momentum at today's open or if we are due for a retracement. Such a retracement could take us back to support at 4389, or 4364. After making new highs it is reasonable for stocks to come up for air, unless we catch another bid at open. The Kovach OBV is strong but appears to be leveling off.
FX:SPX500Long
by quantguy
Renewed Momentum for Ethereum!! 📈🚀Ethereum has caught a big wave of momentum as it seems the entire market is reinvigorated off news that Amazon will start accepting crypto and is developing their own crypto currency. Ethereum blasted through $2100 which was previously a prohibitive high, and has rocketed up to $2400, which is another significant high, and barrier to higher levels in the $2K handle. We have appeared to reject it for now, or at least be coming up for air. There is a wide range at current levels, with the next support level down at $2232. If these levels do not hold, then ETH will find further support in the $2100's. The next target is $2556 if we can break the psychological and technical barrier of $2400.
BITSTAMP:ETHUSDLong
by quantguy
2
Bitcoin is Back??Bitcoin has seen a tremendous surge of bull momentum after news that Amazon will be accepting crypto payments and is developing their own cryptocurrency. We have smashed through $34K which was a significant milestone and a technical level which has proved to be a barrier to BTC. The rally took us just shy of $40K, which is the ultimate validation of another bull run. If we can break this level, then we can be confident the wave of malaise for crypto has ended. We will have support from $37.7K and will have further support by $36.7K, but there is a vacuum zone down to $34.9K if these levels do not hold.
BITSTAMP:BTCUSDLong
by quantguy
1
New Highs for Stocks!!Stocks have made new highs, finally reaching the target we set at 4408. We set this target before the sharp decline in stocks that followed renewed Coronavirus panic. However, the S&P made a V shaped recovery, and we have retraced this selloff and then some. We do appear to have returned confidently back to bull mode. We have established our next target at 4431. The Kovach OBV is strong, but has rounded off suggesting stocks may be coming up for air at the moment
FX:SPX500Long
by quantguy
Litecoin Finds Support!!Litecoin found support from $105 as we anticipated, but is meeting some resistance from $114, which we have identified as a new technical level. It has gained some strength from the relief rally we are seeing in the crypto market, but is still below $120, a significant level for LTC. The Kovach OBV has picked up, but just barely, suggesting that LTC is not out of the woods just yet. The Kovach Chande has picked up with the burst of momentum but appears to be rounding off. This suggests that LTC may continue to range at current levels. If we see another bull push then $120 should provide resistance
BITSTAMP:LTCUSD
by quantguy
1
Relief Rally for ETH!!Ethereum has caught a lift off the projected lower bound based on Fibonacci levels anchored at its range from last week. In fact, we broke one level below, to $1717, before a relief rally took us back to the $1800's. Currently we are just below $1900, facing resistance from $1906, one of our technical levels. We have returned to last week's range, and the upper bound at $2025 should continue to provide resistance should the bull momentum continue. We were due for a relief rally, but must break $2025 in order to validate that the market has shifted back to bull mode.
BITSTAMP:ETHUSDLong
by quantguy
4
Momentum Back for Bitcoin??Bitcoin has made a comeback, finding support just above $28.8K, which was a level projected using inverse Fibonacci levels anchored by last week's range. We have currently broken resistance and have achieved the $30K's once more. In fact, we are now just above $31K, which was the lower bound of last week's range. We are still witnessing some momentum here, but are in the middle of a vacuum zone to $32.3K. Anticipate resistance from this upper bound. The Kovach OBV has gained notable strength, but we still have a few key levels above to break before we can safely be assured that genuine bull momentum has returned to the crypto markets.
BITSTAMP:BTCUSDLong
by quantguy
3
Stocks Shrug off CoronavirusStocks have made an incredible V-shape recovery, completely shrugging off the entire meltdown we saw from renewed Coronavirus fears. We anticipated a comeback for stocks yesterday, but our targets were much more modest. We anticipated the S&P to test at least 4306, but it is now currently testing 4350. We are seeing a red triangle on the KRI suggesting we are meeting some resistance here, but after such a move this should be anticipated. We are nearing highs so stocks will likely range at current levels before considering a breakout. The Kovach OBV dipped to reflect the selloff but has gained considerable strength with the recovery.
FX:SPX500Long
by quantguy
2
Bitcoin Sub $30K!! 😧📉Crypto's have fallen across the board to new relative lows, smashing strong levels of support all around. Bitcoin is now exception and our prediction of sub $30K BTC is now a reality. The Kovach OBV is quite bearish, and we appear to be getting comfortable in the $20K's. The nearest support level is $28.8K. This level perfectly aligns with inverse Fibonacci extension levels. We anchored our Fib levels at the boundary of the range BTC held this weekend. We've simply run out of levels below $28.8K, so the tool will project the next levels of support. After $28.8K we have $27.5K. From above, we will have to break at least $30K to be considered bullish.
BITSTAMP:BTCUSDShort
by quantguy
2
Ethereum Smashes Support Levels!! 📉📉Ethereum has smashed our profit target from the inverse head and shoulders breakdown last week. We anticipated support at $1795, but once $1800's broke, it was smooth sailing down to $1750. Right now, we have broken even below that, and but have support from three levels at $1717, $1694, and $1653. Inverse Fibonacci levels anchored at the range ETH was holding over the weekend project a new low of $1591, should FUD continue. After the three support levels mentioned, we have simply run out of support levels to which to turn. The Kovach OBV is still quite bearish.
BITSTAMP:ETHUSDShort
by quantguy
1
Coronavirus Panic Smashes Stocks!! 😱📉Massive amounts of risk off sentiment poured into the markets which crushed stocks. We dipped as low as 4234, before a respite back to current levels in the upper 4200's. Currently we are sitting just below a resistance level at 4293. The Kovach OBV has turned sharply from its overwhelming bull trend to reflect the dump. We dumped almost two handles, from just below 4400 to the 4200's, so it is reasonable for stocks to come up for air and perhaps range at current levels. Another dump could take us back to lows or worse, there is a vacuum zone down to 4188 below. A recovery could take us back to 4327. It is likely after a few days at most that we will begin to make a full recovery. These bouts of panic don't last long and the Fed will likely make a statement to save the day if so
FX:SPX500
by quantguy
2
Litecoin Breaks Down!! Litecoin has smashed through the vacuum zone below $120 to support at $105. We had considered this a min lower bound for some time, but it does not appear to be seeing any significant support from $105 and is hanging on by a thread. We should see support at the psychological $100 level after that, but otherwise, prepare for double digit LTC. The Kovach OBV is extremely bearish, but if we get a relief rally it will need to at least bring us back to $120 to be considered significant.
BITSTAMP:LTCUSDShort
by quantguy
2
Ethereum Holding a Narrow RangeEthereum is holding a narrow range after the head and shoulders breakdown from $2025. It looked like we were preparing to test this level again, but fell just short and returned to support at $1872. Volatility has consolidated significantly, suggesting a breakout either way can be expected. We will find further support from $1821 and $1795. From above, $2025 will be a significant level of resistance. The Kovach OBV does appear to be creeping up, showing a slight bull divergence, so perhaps a pump is near.
BITSTAMP:ETHUSDLong
by quantguy
2
Pump Coming for BTC??Bitcoin is holding a very narrow range from $31K to $32.3K. Such a consolidation of volatility indicates that a breakout should follow soon. We assert that we are due for a pump, even if it is a relief rally into the broader bear trend. The Kovach OBV is still quite bearish, but does appear to be bottoming out. If we are wrong, the psychological and technical level of $30K will provide some support but the more we are comfortable testing this level the more likely we are to break it. At the end of last month, we tested $29K, but this was swiftly bought back. This would be the next level of support should we break through to the $20K handle again.
BITSTAMP:BTCUSDLong
by quantguy
5