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Ghostsquawk

Ethereum Dips to $1300's!! 😨Ethereum has taken a dive from highs at $2000 all the way back to the $1400's for over a 25% dip. This is extreme even for cryptos. Currently we are seeing support at $1424, one of our lowest levels. We have two wicks just below that which hopefully are forming a double bottom. The next level after that is $1340. If we gain some momentum we should easily be able to regain $1500's again, but recovering highs may take some time. On the longer term this is a technical retracement into an overall bull trend, however a further retracement could signal that a bear trend may be near for cryptos.
BITSTAMP:ETHUSDLong
by quantguy
Cryptos Collapse!! What to do ?? 😱Cryptos have gotten battered last night in the Asia-Pacific session. This is a proper crypto selloff that we have not seen in a while, because cryptos have been mooning for some time now. But these dumps should be anticipated and tend to come out of nowhere. This is not the end of the world and we are still very bullish of Bitcoin, but technical retracements do happen, and there were clear signs of over leverage and exuberance in the system. BTC appears to be finding support from $45K, a psychological and technical level as well as $45.6K. It could certainly pull further and $42K is the next support level. On the upside, it will be a bit of a struggle to reclaim $50K and $48.2K will be in our way first.
BITSTAMP:BTCUSDLong
by quantguy
2
Stocks Waiting on PowellStocks really took a dive today. It seems the S&P is fearful of what Fed Chair Powell may have to say today. Recall that part of the reason that stocks are selling off is that due to increased bond yields, investors are fearful of higher interest rates, which would dampen the easy money party that stocks have been enjoying for years. We are at a support level right now of 3847, which has further support from the intersection of a trend line and the psychological level of 3850. It is highly likely we will see a bit of support here, and it looks like we are catching a meager bounce at least. The Kovach OBV is bearish, and the Chande is turning over so both indicators are not looking too hot for stocks right now. If we break down further, watch 3825, and if we are able to break out, we will find resistance at 3887.
FX:SPX500
by quantguy
Make-Or-Break for Stocks! Eyes on the Fed 👀Stocks have retraced significantly in what appears to be a megaphone-like pattern. For the pedantic, a proper megaphone pattern requires higher highs as well, which we don't seem to have, but the spirit of the megaphone pattern is expanding volatility which we do see, especially on the down side. These current levels are a make-or-break for stocks. The level 3867 is crucial here, as it is the intersection of a tend line and a technical and Fibonacci level. If we break this we will have a lot of momentum, and could easily slice through 3846 to find support at 3824 or even 3810. Fundamentally, investors are fearful that a rise in the bond yields will result in a more hawkish Fed, and stocks are loving their low interest rate environment and easy money policies. Watch for hints of the Fed's direction when Jerome Powell speaks tomorrow. If you have faith in the stock market, then any dip should be considered a buying opportunity, as once the news is digested, hawkish or not, stocks will likely rip back to highs.
FX:SPX500Short
by quantguy
Megaphone Pattern in Bitcoin!! What does this Mean??Bitcoin looks like it is forming a megaphone pattern. This is a make-or-break for BTC in the near future, as vertex 4 is meeting the lower bound of the megaphone as well as intersecting with a support level at $52.8K. If we see support here, we will fill out the rest of the pattern, which would take us to new all time highs around $60K exactly. If we break down, we should see a lot of momentum and retrace through the vacuum zone to $49.7K. We are still bullish of BTC and cryptos in general but technical retracements and selloffs do happen.
BITSTAMP:BTCUSDLong
by quantguy
2
Litecoin Bottomed Out??Litecoin has dipped quite a bit as well. It seems to be finding support at a new technical level, which aligns perfectly with $200, a strong psychological level. watch for support here. If not, it will easily slice through the vacuum zone to $183. Current levels should be viewed as buying opportunities, and if we see lower levels, it should be considered a bargain. we have been waiting for good dips to buy and LTC is one of our favorite cryptos. The Kovach OBV is pretty bearish but it may have bottomed out.
BITSTAMP:LTCUSDLong
by quantguy
4
Stocks Face Volatility Near HighsStocks continue to see volatility at highs. We had a nice burst of bear momentum yesterday as the markets were pretty risk off. We have gotten support from 3887, and this seems to hold. Broadly, the S&P is likely to hold the rather large range between 3887 and 3963. We are at 3909 right now, which is broadly in the middle of this range. It could go either way. The Kovach OBV is on the uptrend, after registering the bear momentum. However, we are at the upper bound of the KRI, and near a significant level, so we may retrace back down to 3910
FX:SPX500
by quantguy
1
Litecoin to $250!!Litecoin was able to breakout to new relative highs yesterday. We anticipate it testing $210 again and then breaking out. We are delighted to be wrong about this and have left the arrows on the chart anyway. We still predicted the breakout correctly, though our profit target, $252 is a bit more aggressive for LTC than it is with the other cryptos. If LTC loses steam it will find support from $210, $194, or $183. Those latter levels would be bargains. The Kovach OBV is slumping a bit so a retracement is likely before another burst of momentum
BITSTAMP:LTCUSDLong
by quantguy
3
$100K Bitcoin??Bitcoin has reached our profit target of $52.8K!! Actually for the pendantic it reached $52566, but close enough. We are currently finding resistance here and will likely form a consolidation pattern before the next breakout. The levels $49.7K, $48.2K, and $45.6K will all provide support. Those latter levels are unlikely but one can hope. Our next target is $55.7K. At this rate, we could have $100K Bitcoin as early as this summer. Institutional interest keeps driving buying and sentiment for cryptos.
BITSTAMP:BTCUSDLong
by quantguy
2
Bitcoin Nearing Profit Target!!Bitcoin is at $51K!! It is just under $2K away from our next target of $52.8K! This should easily be achieved by the end of this week. We are seeing struggling channel pattern, however, so we may see a retracement, at least to the lower bound of the channel which should put us somewhere around $47.3K. There is very strong support at $45.6K. After that, there is a vacuum zone down to $41.9K, which Bitcoin is not likely to test but we should be aware of it anyway.
BITSTAMP:BTCUSDLong
by quantguy
S&P 500 Retracement??The S&P is bouncing around between lower levels below highs. Currently 3910 is providing support, but may be forming the neckline of a head and shoulders. Stocks are looking very weak right now. The Kovach OBV is a bit oscillatory, but is broadly flat. The Chande is in the middle which suggests we may be looking at a further retracement. The first level of support would be 3887. This has provided support in the past. The next level would be 3867, which seems to align with a Fibonacci level. If we are wrong, we will know at open. We could easily retrace to 3937, or even back to highs at 3962.
FX:SPX500
by quantguy
1
Stocks Feel the Yield Rally! When to Buy Back??Yesterday, bond prices collapsed and stocks felt the bond fervor as investors clamoured onto higher yields for the first time in over a year. The S&P retraced from highs, but is still clinging to support at the next peg down from highs, between 3936 and 3927. We do appear to see an inverse head and shoulders pattern forming with the headline at 3937. Watch for a breakout from here at open, which would make a run back to highs at 3963. It is doubtful we will break this level today, but if we do 3970 is the next target. If we break down, which may be the case as the S&P looks like it is having trouble completing the second shoulder of the inverse H&S, 3908 and 3887 will provide support
FX:SPX500Long
by quantguy
$250 LTC Soon!!!Litecoin seems to be one of the strongest cryptos right now. It did take a dip to $184 that was immediately bought back. It is consolidating just above support at $209. It will have resistance from relative highs and our Fibonacci extension (formerly a price target) at $226. If it breaks down again watch for support at $194, then again at $184. The Kovach OBV is strong, which makes a breakout more likely than a breakdown. We have a fairly wide gap between relative highs and our next price target at $252.
BITSTAMP:LTCUSDLong
by quantguy
7
S&P 500 to 4000!!!The S&P has hit our price target exactly. We had identified 3963 as a potential target using our Fibonacci Extensions several days ago. Currently stocks are ranging, feeling out the new price territory. It could go either way from here. We could see another retracement, which would take us down to 3937, 3928 or 3909 at the most. These would be good opportunities to buy back. If we breakout, the next target its fairly close at 3978. The next level after that is 4009.
FX:SPX500Long
by quantguy
Ethereum Rounding Top!!Ethereum has lost some momentum after making new highs at $1872 or so. It is forming a rounding top by making subtly lower highs. This suggests a retracement is near, or at least some ranging about current levels. The Kovach OBV has fallen off dramatically. Suggesting a lack of momentum that wont take us back to ATH's any time soon. Watch $1748. If it breaks this level we have support at $1695 and $1653. Both are Fibonacci and Technical levels, and should be considered buying opportunities.
BITSTAMP:ETHUSDLong
by quantguy
9
$50K Bitcoin!! What's next??You read it here!! Bitcoin has reached $50K!! It bounced off the lower bound of the channel, achieved highs at $50K, then retraced a bit. It has been holding the bull channel for just over a week now. We are not seeing much momentum here near highs. We will need momentum to punch through to solidify new highs again. The Kovach OBV is completely flat. This suggests that a retracement is near, which should definitely be considered a buying opportunity. The levels $45K and $45.6K seem to be pretty strong levels of support below. If not there is a vacuum zone down to $41.9 which should be considered a bargain. The next target is $52.8.
BITSTAMP:BTCUSDLong
by quantguy
2