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Ghostsquawk

Ethereum Holding Strong!!Ethereum has seen nice support from our level at $3646, and will likely form a consolidation pattern as it gears up for another breakout. It appears to be in the consolidation phase of a dragon head pattern. The dip in crypto and meltdown in BTC did not seem to faze ethereum, and this demonstrates the strength this coin has at the moment. The Kovach OBV is broadly strong but has dipped a little with the selloff. A breakout would take us back to highs at $4293, but it is also reasonable to expect it to test lows again at $3646.
BITSTAMP:ETHUSDLong
by quantguy
3
Bitcoin Finding SupportBitcoin has plunged after the news that Elon Musk will no longer accept Bitcoin at Tesla. However, it has good support at $48.2K, and appears to be demonstrating an inverse head and shoulders with a neckline at $50.9K. It definitely seems that Bitcoin is gearing up for a breakout to higher levels, $52.8K being the first target. Eventually, it should regain its former range from $52.8K to $59.4K. Current levels might be a great opportunity to add to a position, but further fallout could take us down to $46.2K if $48.2K does not hold. The Kovach OBV appears to be ticking up, suggesting the buyback had legs to it.
BITSTAMP:BTCUSDLong
by quantguy
Stocks Pare LossesStocks have rebounded from lows at 4040 or so, retracing about half of the massive selloff from earlier this week. We are currently testing resistance at 4144. The Kovach OBV is still pretty flat which suggests that this buy back was paltry with respect to the momentum of the selloff. Therefore, we are less likely to break current levels unless we have a significant wave of momentum come through at open, which could take us back to 4178 or 4188. Another selloff could take us back through the vacuum zone to 4073.
FX:SPX500
by quantguy
1
Support for Litecoin!!Litecoin has dipped to lower levels with the rest of the crypto market but we appear to be finding good support at our technical levels, established for quite some time here. In particular, the $300 handle seems to be holding, and our next significant level is $291 if that does not hold. We have two green triangles on the KRI, so this is a good sign. The Kovach OBV has turned bearish to register the selloff. We will have to cross two significant technical levels which will provide resistance at $322 and $340, before we can test former all time highs at $375 again.
BITSTAMP:LTCUSDLong
by quantguy
2
FUD in Bitcoin!! Still HODLing!!Bitcoin has tumbled recently, testing levels as low as $45K. Even though this was swiftly bought back up, it is not a good sign for Bitcoin, because previously, $48K was holding strong, and thus we are seeing lower lows, a bearish sign. The psychologically important $50K level is now providing resistance, and we've rejected it for now. It does appear that we are seeing support at $48.2K, which was once the hard lower bound for BTC. From here, we should at least come up for air and feel out the current range between $48.2K and $50.8K. Be mindful of the vacuum zone down to $46.2K
BITSTAMP:BTCUSDLong
by quantguy
6
Stocks Continue to Dump!!The S&P has tumbled further to lower levels. We have broken a key level at 4073, and is currently in the middle of a vacuum zone that was created by the huge rally in stocks in April. We do appear to be finding some support at 4045, as suggested by the green triangle in the KRI. If so, this will constitute a new technical level. The next level of support is 4009, which is quite further. The Kovach OBV is extremely bearish, and the Kovach Chande has also dipped, suggesting we are in oversold territory and a short position might be FOMO at this point. However, it may not be a good time right now for a long position either, as we could easily test 4009.
FX:SPX500
by quantguy
Litecoin Ranging Near HighsLitecoin has caught some support but still has a way to go before reaching highs again. We had strong support from $340, and were able to break $375, which was once an all time high. There is a vacuum zone above and below. From above, we have $417, at highs, and this will provide significant resistance. From below, we have $340 and then $322. The Kovach OBV is still relatively strong but has registered the selloff from May 10th. We anticipate LTC to range a bit, feeling out the levels before making another run for highs
BITSTAMP:LTCUSDLong
by quantguy
2
Ethereum Rips as Bitcoin Dips!!Ethereum has ripped up to meet our profit target at $4293. It has retraced slightly to $4265 at the time of this writing, but is showing no signs of a significant retracement. If we do come up for air, watch $4020. It does seem to be over bought at this point and a significant retracement could even take us back to $3646. It would be a very bad idea to be short of ETH at this point, but any pull back should be considered a buying opportunity. Our next target is $4858
BITSTAMP:ETHUSDLong
by quantguy
2
Bitcoin RangingAfter breaking down from our bear wedge pattern, Bitcoin has found resistance $57.7K, a technical level that to which you have been alerted many times. If it is able to break this level we will see resistance from the trend line which will coincide with $59.4K by that time. It is more likely that Bitcoin will feel out lower levels of this range. Recall that $52.8K is the lower bound. If we break down from this range, we will have support from the psychological $50K level with $48.2K as a min lower bound. We have significant resistance at highs, but if we can break that, $61.6K is the next target
BITSTAMP:BTCUSDLong
by quantguy
Stocks Find Support!!Stocks have sold off for two days in a row. However we appear to have a double bottom at 4122. This was a significant technical level to which we alerted you many times, so hopefully you were prepared. This level might be a great point to add to a long position, and the risk management is pretty clear. Below 4122, we have a vacuum zone to 4073, so it would be advisable to keep a narrow stop loss. From above, 4178 and 4188 will provide resistance. We have a little bit to go before highs at 4245, so it is unrealistic to expect to see this level again today.
FX:SPX500Long
by quantguy
Litecoin Dips, Finds SupportLitecoin has retraced along with the crypto market. Unfortunately, it was not bought back as swiftly as we would like, but is still finding support at one of our technical levels at $340. This is a level we alerted you about yesterday, and many reports prior. We consider this a great level to buy or add to a position, but if it does not hold, $322 will provide further support. There is a vacuum zone after that back to the $200 handle at $291. Former all time highs at $375 will provide resistance and we'll need to cross that again before considering $417 again.
BITSTAMP:LTCUSDLong
by quantguy
Bitcoin Breaks Down!!Our optimism for bitcoin planted face first into reality yesterday as bitcoin broke down from what we thought was a bull wedge pattern. The divergence between the Kovach OBV and the consolidation pattern we saw yesterday should have been a clue that it would break to the downside. Luckily, $54.3K has provided good support and will likely continue to do so, but if not, $52.8K will provide further support. This appears to be the lower bound of the range, so it is certainly possible to test this level again. On the upside, we have several technical levels to cross before considering highs again, including $56.8K and $57.7K.
BITSTAMP:BTCUSDLong
by quantguy
Stocks Take a Nosedive!!!We warned you that stocks were at highs yesterday, and would take significant momentum to push higher. Indeed, stocks took nose dive and are finding support just above our technical level of 4144 after slicing through several technical levels. We are likely to see the S&P range at current levels and maintain 4144 to 4178. Further retracement could take us back to 4122. The Kovach OBV has dipped substantially, registering the selloff. We have several technical levels to in our way before we can consider highs again, including 4178, 4188, 4214 and 4228.
FX:SPX500
by quantguy
1
Litecoin Looking to Break Higher!!Litecoin has continued to rally, finding resisntace and retracing a bit just below our profit target of $417. We have finally broken all time highs on this coin, which has been long overdue. We are likely to see support here at $375, previous all time highs, but if not there is a vacuum zone down to $340. We are likely to make another run for our target of $417 soon. Our next target for Litecoin is $450. The Kovach OBV is still very strong, but appears to be leveling off suggesting that we may range or retrace.
BITSTAMP:LTCUSDLong
by quantguy
2
Bull Wedge in Bitcoin!!Bitcoin has been broadly ranging but showing a clear affinity for the upper bound of the range at $59.4K. This appears to be the upper bound of a bull wedge pattern, so consider a breakout imminent. We are currently finding support from $57.7K which is a technical level and the intersection of a trendline. We are also seeing a green triangle form on the KRI, suggesting we will have support here. If not, $56.8K and $55.7K should provide support. When we do finally breakout, $61.6K is our next target.
BITSTAMP:BTCUSDLong
by quantguy
1
New Highs for Stocks!!Stocks have made new highs again in the overnight session, finally meeting resistance at 4245, which we have identified as a new technical level. We will see how they react toward today's open. If we see more momentum coming through we could see new highs again, however if not, we could see ranging or a retracement. It is likely that the S&P will feel out the current price territory between 4214 and 4245 before breaking out higher. Our next profit target is 4272. A significant retracement could take us back to 4188. The Kovach OBV has been lagging lately, but has picked up registering this rally. It appears to be rounding off however, which suggests we are due for ranging or a retracement.
FX:SPX500Long
by quantguy
Bitcoin Gearing up for a Breakout??Bitcoin is maintaining the range between $52.8K and $57.7K. Other crypto's are ascending, but Bitcoin has been conspicuously quiet lately. We anticipate a breakout in BTC very soon for several reasons. Technically, we may have a bull flag forming, with the Kovach OBV suggesting we are building up pressure (though this indicator has tapered recently). Second, investors will look for somewhere to dump profits from other cryptos, like Doge, ETH or LTC. When this happens, we should see a big move. We must first breakout from $59.4K, but then $60K is in sight. The next significant level is $61.6K.
BITSTAMP:BTCUSDLong
by quantguy
Litecoin Still Bullish!!Litecoin has retraced a bit, falling just short of our next profit target, which is all time highs at $375. Currently it is holding at support after retracing to $322. Typically litecoin has sharp retracements, and it is not uncommon for it to give back the entire move. So the fact that we are seeing it hold current levels is encouraging. The Kovach OBV is strong, but has tapered since the retracement. We anticipate it to range a bit, if not retrace before making another run for highs. But this bull run in crypto does not appear to be over yet.
BITSTAMP:LTCUSDLong
by quantguy