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Bull Channel Breakdown for ETH??Ethereum has retreated from highs, finding support at a Fibonacci level and the lower bound of what appears to be another bull channel. The good news is that it has good support here, and looks like it may bounce from this level. The Kovach OBV is still very strong, so this supports our position that it will bounce. The bad news is that bull channels tend to break down. We already have Fibonacci levels drawn which will give us a feel for lower levels of support. We have $1233, $1172, and $1111. To the upside, new highs will provide resistance. If we are able to break those, we will see more resistance in the mid $1500's, and may retrace here, filling out the channel.
BITSTAMP:ETHUSDLong
by quantguy
2
Bitcoin Consolidates. When is the Next Breakout??Bitcoin has consolidated, narrowing the range down to just over $3K. It is currently hovering between $28.5K and $31.6K. It appears to be forming a bear wedge pattern, or a triangle correction in the Elliott Wave. We should see a breakout soon either way. The Kovach OBV has completely broken down. It has retraced significantly from the bull run. If we do breakdown, the next major support level is $24.4K. There is certainly still hope for bulls as long as we are above $28.5K
BITSTAMP:BTCUSDLong
by quantguy
Cypher Pattern Breakdown in StocksStocks have faced a tremendous retracement. The S&P has blasted through levels in the 3800 handle. It tested the low 3700's before finally finding support. There is a bearish cypher crab pattern on the daily chart. This is an extremely bearish sign, and such a large selloff could be the initial breakdown from this pattern. The Kovach OBV is registring the sell off. Currently, the S&P is ranging between 3712 and 3750. It is reasonable that it should try to find footing after such a tremendous selloff. The boundaries of this range will provide support/resistance, so pay attention to what happens at open. The next levels of support are in the 3600's at 3695, then 3676 then 3658.
FX:SPX500Short
by quantguy
Litecoin Bear Wedge!! When to Buy Back??Litecoin appears to have caught Bitcoin's malaise. It is currently forming what looks to be a bear wedge. It is reminiscent of a head and shoulders pattern with a neckline at $124, however a head and shoulders always follows an uptrend, whereas our current situation follows a swift retreat from highs. Nevertheless, the spirit of the head and shoulders pattern, failure to make new highs, is definitely present with LTC. It is currently sitting at support at $124, but it appears to be ready to break down and test lower levels at $111. If not, a breakout will take it past $132, $138, and even up to $145.
BITSTAMP:LTCUSDShort
by quantguy
When will ETH Make New Highs??Ethereum has retreated several levels from highs. Currently, it is finding support just above $1233, after slicing through $1320. Both of these are Fibonacci levels. The Kovach OBV is still pretty strong, so it may be able to muster the strength to return to those upper levels. Mid term, it is likely to form a consolidation pattern, testing and rejecting highs a few more times before breaking out in the long term. This however, assumes that weakness from BTC does not spill in to ETH taking it down to lower levels like $1172, $1111 or even $1035. The lower level $913 seems like a long shot, but that would be the final level and first major support level south of $1000.
BITSTAMP:ETHUSDLong
by quantguy
Stocks Reject Highs!! When to Buy??Our prediction in stocks was 100% on point yesterday! We wrote that stocks would have resistance at highs. At the open, the Kovach Momentum indicator (short term momentum) was flat, suggesting that there was little or no momentum at all. To break through to new highs, we require a nice burst. In the absence of momentum, ATH's act as a wall, which the price will swiftly reject. That's exactly what happened. Some of our traders were able to take advantage of this making serious profits off this rejection. The S&P 500 crossed the entire range, finally piercing through 3825. It finally found some support at 3810, which has now solidified its utility as a technical level in addition to a Fibonacci level. Expect stocks to take a breather here. The Kovach OBV has turned, registering the bear momentum. This is likely to continue, though we should see a bit of a retracement at current levels.
FX:SPX500Short
by quantguy
1
Litecoin Buying Opportunities and Profit TargetsLitecoin is still tracking Bitcoin, even in its lethargy. LTC is currently sitting at levels of support from Fibonacci levels anchored at the extrema of this most recent wave. We will have support from $132, $124, and $111. All should be considered buying opportunities. Eventually LTC should break out and we will have resistance at $138, $145 and $154. These can be thought of as profit targets if you are trading LTC. We still have a way to go before $166, the upper bound of the recent wave, or $186, all time highs, but these should also be thought of as longer term targets.
BITSTAMP:LTCUSDLong
by quantguy
Ethereum Rejects New Highs!! What's Next??After making new highs briefly, Ethereum fell back down to support at $1300. This is a strong psychological level. The Kovach OBV is still pretty strong for Ethereum. It has only registered a small dip corresponding to the rejection from highs. If Ethereum dips further it will find support $1233, $1172, or $1111. These would be good levels to buy back. It is likely that ETH will form a bullish consolidation like a bull triangle as it gears up for another breakout
BITSTAMP:ETHUSDLong
by quantguy
1
Bitcoin Limp. When to Buy??Bitcoin has been quite flaccid lately. It has leveled off in the low $30K's and seems content there. The Kovach OBV has dropped off dramatically, confirming the malaise. Longer term, these are likely to be bargain levels in BTC, so if you have not added to your position, now may be the time. We will have support at $28K if BTC dips lower. Some momentum should take us to $33.6K or $35.2K, which would be nice levels to take profit if you are trading Bitcoin.
BITSTAMP:BTCUSDLong
by quantguy
1
Stocks Back to Highs! Will they Breakout??Stocks had a little flash crash that was immediately bought back up. Currently, the S&P is sitting at highs. After a crash like that it was lucky to get bought back to highs let alone break out again. The Kovach OBV has run out of steam and is flat at current levels. This is not a divergence quite yet, but it does suggest stocks should at least range a bit before another breakout. It could go either way at this point. Watch if the S&P tests and rejects highs at 3867. If it keeps rejecting highs, it will constitute a bearish signal. If we are able to breakout, 3887 will provide resistance and is our next target. Yesterday, 3792 provided beautiful support and it is no accident that this is one of our significant levels. It is a Fibonacci level and a technical level. Watch for it to provide support again if we have another dump
FX:SPX500
by quantguy
3
Litecoin Ranging Before Another Breakout??Litecoin is ranging after a retracement. It's quite correlated with Bitcoin at the moment, unlike Ethereum which made new highs recently. It is healthy for LTC to retrace and hold a range for a bit. This is a 50% retracement from the channel breakdown, which is exactly what we can expect of bull channel breakdowns. We could retrace to $111 and still be considered bullish. But before that, we will have support at $124, $132, and $138. A burst of momentum will take us to the top of the channel at $166. We still have a bit to go before new highs after $186.
BITSTAMP:LTCUSDLong
by quantguy
Ethereum New Highs!! Where are the Buying Opportunities??Ethereum made new highs then swiftly retreated. It is a bit extended right now, having crossed $1035 to $1430 since Thursday. We can anticipate further resistance at highs, and perhaps for a consolidation pattern to form (such as a bull wedge or flag) before another breakout. We could see up to a 50% retracement of this month's range, which would bring us to $1172. We would see support from some levels in between at $1320, and $1233 in between. We could dip all the way down to $913 and still be considered bullish. The Kovach OBV and Chande are both really strong, so it is highly likely the pendulum will swing back and we will see a retracement. Long term we are very bullish of ETH.
BITSTAMP:ETHUSDLong
by quantguy
Bitcoin Ranging. When to buy??Bitcoin has been maintaining the $30K range for some time now. It is healthy for BTC to take a pause, since we were getting dangerously close to bubble territory. It really does not want to test the $20K's again, as any attempt at those levels gets bought back really quickly. Currently, we appear to have finished the corrective phase of the Elliott Wave wave, though we may be in for an extended sideways correction. If we see momentum come through, then we know we in wave 1 of the next 5-3 wave. The Kovach OBV has stalled so we can anticipate currently levels to hold. The levels $31.6K, $30.9K, and $30K are all buying opportunities. We will face resistance at $34.7K, $36.7K, and $37.7K.
BITSTAMP:BTCUSDLong
by quantguy
Stocks Ranging Before Another BreakoutStocks are ranging between 3825 and 3867. These are both levels identified by us, in addition to the ranging. Since it is Monday, we are unlikely to see any significant moves, so anticipate the ranging to continue, but we will know more details towards the open. The next target is 3887. We should easily hit this with another burst of momentum. If we retrace, we have some options for support from Fibonacci levels below at 3811, 3800 (also a psychological level), and 3792, which coincides with a technical level. The Kovach OBV is strong, but has recently flat-lined, confirming the ranging behavior.
FX:SPX500Long
by quantguy
Technicals for LitecoinLitecoin validated our analysis yesterday. We called a dip to 124 or 111, and we caught support exactly at 124. Right now, we are facing resistance at 138. It could really go either way at this point. Longer term, we are bullish of LTC, but there is a possibility that the bear momentum is not finished. If so we will find support at 111. It is doubtful LTC will push past this level unless there is another meltdown in cryptos. Both 145 and 154 will be targets if the bull momentum can sustain.
BITSTAMP:LTCUSDLong
by quantguy
1
Best Trading Ideas for ETHEthereum broke hard from the trendline but has since reclaimed most of the move. ETH caught support from 1035, which is one of our Fibonacci levels. Currently it is facing resistance at 1233. We are seeing a red triangle on the Kovach Reversals indicator suggesting we may equilibrate in 1035 to 1233 range before another breakout. If so, 1111 will provide support. The Kovach OBV is still pretty bullish despite these vagaries, so we are still bullish longer term for ETH.
BITSTAMP:ETHUSDLong
by quantguy
Best Bitcon TechnicalsBitcoin has extended its decline, briefly testing the $20K handle, but swiftly rejecting $29K, and reclaiming $30K. Broadly, it appears that BTC has extended the corrective phase of its 5-3 Elliott Wave. If we are correct, we should see another burst of momentum soon. Watch for a blast of momentum to take us back to $36K. However, if our Elliott Wave is correct, we could still retrace to $22K and still be considered bullish. We will have support from $28K, and $24K before that.
BITSTAMP:BTCUSDLong
by quantguy
Stocks Reject Highs. What's Next?As we told you yesterday in the reports, stocks retraced to 3825. This is a strong level of support. Both Kovach Momentum indicators are solidly bearish, leading us to think the pendulum may swing back soon. Additionally there is a cluster of green triangles on the Kovach Reversals indicating that we are seeing some candlestick reversal patterns. If we do see a bounce, the S&P will likely feel out the range between 3825 and 3867. If we are wrong watch for 3811, 3800, and 3792 to provide support.
FX:SPX500Long
by quantguy
Ethereum Buying Opportunities??Ethereum broke our trend line and is testing lower levels. We have drawn some new Fibonacci levels to anticipate support. Eth is currently sitting at support around 1233, a Fibonacci level. It is reasonable that it should retrace to the 50% Fib level at 1172. We should find support there. Otherwise, we have some nested fibonacci levels around 1111, and 1035. The Kovach OBV has turned sharply, registering the selling pressure. Be mindful of jumping into a trade here, as the bear momentum may not be over.
BITSTAMP:ETHUSDLong
by quantguy
2
When will Bitcoin Moon Again??Bitcoin has broken down from the channel pattern it was following for the past few days. It tested our support level of $34K, briefly finding support there before breaking down further. It appears to now be finding support at $30K. This level is likely to hold and we should see a bounce soon. If not, the lower anchor of our Fibonacci levels at $28.5K will provide resistance. The Kovach OBV has remained resilient throughout Bitcoin's vagaries, but has taken a dip recently confirming the bear momentum. Both Kovach momentum indicators are bearish at this point. This suggests that soon the pendulum will swing back to bull mode.
BITSTAMP:BTCUSDLong
by quantguy
Stonks Make New Highs!! What's Next??As you all are undoubtedly aware, stocks made new highs yesterday. They met resistance exactly at 3856, the level we called out for weeks. Finally they inched past this level to 3867, where they are currently facing resistance. Almost certainly they will break out higher. They could range to feel out this new price territory first, however, so don't get too excited. The S&P is at highs, so jumping into a long trade would definitely be FOMO. It is certainly possible that we could retrace to 3825. The Kovach OBV is very strong, so we are in buy on dip mode. Nested Fibonacci levels give us a price target of 3887, and then 3935.
FX:SPX500Long
by quantguy