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Best Bitcoin Trading Ideas!!Bitcoin is back at highs, with a minor retracement as we anticipated. From here it could go either way. If we see a burst of momentum, we could easily breakout to the $60K's. We could also range at this point, or retrace further, forming a broader bull wedge consolidation pattern. Either way, there is no denying Bitcoin is gearing up for the $60K's, its just a matter of when. We could see a dip to $54.3K, or even $52.8K. The Kovach OBV is strong but has sloped off slightly
BITSTAMP:BTCUSDLong
by quantguy
Bitcoin to New Highs??Bitcoin is nearing all time highs again. It seems that the dollar weakness has helped it a bit as well. We are just shy of ATH's at around $57.7K. The Kovach OBV, however, indicates we may be running out of steam so anticipate a pullback. A pullback could take us to $54.3K, $52.8K, or even $50.8K. This should be only a minor setback however, as Bitcoin should be set to make new highs by next week, perhaps even this weekend, depending on the momentum coming through.
BITSTAMP:BTCUSDLong
by quantguy
4
Litecoin StrugglesLitecoin appears to be trying to breakout from a bull wedge pattern however it appears to be facing a lot of resistance with $200. This is a psychological and technical level what LTC must cross before considering relative highs again. After that we have one more level at $209 to contend with before we break out into the vacuum zone to $227. If the pattern fails we will find support at $184. The Kovach OBV is in the doldrums, so chances are we will range or retrace a bit here.
BITSTAMP:LTCUSDLong
by quantguy
2
S&P Failed Breakout??The S&P broke out from our inverse head and shoulders pattern, but faced resistance at the trend line which forms the upper bound of our pseudo-megaphone pattern. If we can't muster the momentum to continue the breakout, then this is a bearish sign and the S&P could retrace all the way back to 3737. If momentum picks up we can easily hit 3909, a technical level and a Fibonacci Extension level from Fibs anchored on the inverse H&S. The Kovach OBV has dropped off suggesting weakening momentum
FX:SPX500
by quantguy
Inverse Head and Shoulders Breakout for ETH!!Ethereum caught some momentum from an inverse head and shoulders breakout. It is currently facing resistance at $1750, but is otherwise holding. If it breaks through $1750, we could definitely see $1800's and $1821 is the next target. If we are wrong, $1550 is the next significant level below, but from experience, failed inverse head and shoulders patterns are quite bearish. The Kovach OBV is still creeping up, so our conviction is bullish until this changes.
BITSTAMP:ETHUSDLong
by quantguy
Bull Wedge in LitecoinLitecoin is looking pretty sluggish but we may have a bull wedge pattern attempting to form. We are at strong levels of support from the lower bound of this pattern. However the Kovach OBV is in the doldrums and the previous trend was bearish so this has a chance to break to the downside. If so, $174 and $170 will provide some support, and if those dont hold, $158 seems like an absolute lower bound for now. If we are able to break out, $202 and $209 are our next targets
BITSTAMP:LTCUSDLong
by quantguy
Bitcoin RangingBitcoin is roughly in the middle of a range it has established between $46.2K and $52.8K. We have very strong support from below at $46.2K, $45.6K, and $45K. Watch for resistance at $52.8K. There is a vacuum zone after that, however to $55.7K. If we catch a strong bid this could easily be reached, however the Kovach OBV is pretty flat. It is likely to continue the current range for a while. It's in the middle of the range so it could go either way, testing the upper or lower bound of the range.
BITSTAMP:BTCUSD
by quantguy
Inverse Head and Shoulders in Stocks!!The S&P has found support off of the lower bound of our pseudo-megaphone pattern. We appear to be forming an inverse head and shoulders pattern with a neckline at 3848. We are currently forming the second shoulder, and it would be wise to wait until we fully form it before preemptively trading it. Our next target would be 3886, which is the intersection of the upper bound of that pseudo-megaphone pattern and a technical level. If we are wrong, 3792 should provide support
FX:SPX500Long
by quantguy
Litecoin Finds Support!! Will it Last??Litecoin has found support at $169, a technical level. The Kovach OBV and Chande were both very oversold last night and we saw a green triangle here at this level which provided an excellent signal to enter a long trade, at least for a quick scalp. This may just be a brief pullback into an overall bear trend however, so be careful. The Kovach OBV is still pretty bearish but has registered the slight bounce we have seen off $169. We are seeing resistance from $174, and if we can break this the next target is $184. If we break down further, we should see some support at $158.
BITSTAMP:LTCUSDLong
by quantguy
3
When Will the Bitcoin Selloff End?! 😫Bitcoin has seen a massive and sustained selloff likely due at least in part to a stronger US dollar. We have broken past several technical levels $50.8K, $49.7K, and $48.2K which will now provide resistance. The levels $45.6K and $45.0K should provide support but if not there is a vacuum zone down to $41.9K. The Kovach OBV has turned bearish and the Kovach Chande has stagnated. This suggests it could go either way for BTC. We definitely need another wave of strong momentum to break this rout. Let's hope for another Musk tweet or nod from a policy maker or large hedge fund.
BITSTAMP:BTCUSDLong
by quantguy
Bond Yields Still Hammering StocksStocks retreated from relative highs and the upper bound of our pseudo-megaphone pattern, which has been holding for over a week now. We found support at the lower trend line which formed the lower bound of the pattern. The Kovach OBV is still extremely bearish and the recent jump in bond yields will further entice investors to diversify and sell some of their stock positions. Watch for stocks to hug the lower bound of the megaphone pattern and potentiallly break down further. If so, watch 3694, 3676, and 3658 for support. If stocks get a sudden burst of momentum, we have a bit to go before highs or the upper bound of the pattern, and there are three levels in the way which have proved significant in the past: 3792, 3810 and 3825
FX:SPX500Short
by quantguy
Litecoin Trading Ideas??Litecoin is trending upwards, but appears to have pulled back. We are finding some support at $184, and if this level holds we can expect it to range or make a run for $202. We are in the middle of a vacuum zone, so if we see some momentum this could happen quickly. The Kovach OBV seems weak with respect to other cryptos, so we could see further retracement. Be careful because there is a vacuum zone below at $174, and one below that to $158, which seems to be a hard lower bound for LTC at least for the moment.
BITSTAMP:LTCUSDLong
by quantguy
8
Best Bitcoin Trading Ideas!!Bitcoin has retraced, but found support at our technical level at $48.3K. We could be seeing the fourth corrective wave of a 5-3 Elliott wave forming as a component of an overall sideways correction. If so, anticipate the fifth wave to take us back to $52.8K at least. We seem to have some resistance here but if we break higher we there is a vacuum zone to $55.7K. Exercise caution though, because we have a vacuum zone below to $45.6K which will provide support. There is another level right below at $45K. The Kovach OBV has been pretty bullish but has levelled off so it could go either way.
BITSTAMP:BTCUSDLong
by quantguy
3
Stocks Still Rearing from YieldsThe sudden and continued rise in bond yields have created a problem for Stocks. The S&P has retraced from the upper bound of our pseudo-megaphone pattern. Although we do have support at 3791, we appear to be forming a bear flag, and may break lower. There is a vacuum zone down to 3758, which it appears that the S&P seems to be gearing up to cross. The level 3758 is not only a technical level but it also intersects with the lower bound of our pseudo-megaphone pattern so we should see some some support there. We have a cluster of levels below that at 3749 and 3737, which should provide further support. If there is bull momentum, we should see resistance at 3847, which is about mid way between the upper and lower bounds of our chart pattern.
FX:SPX500Short
by quantguy