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Ghostsquawk

Ethereum Tests the $2K's Again!!Ethereum dipped into the $2K handle, but found support at $2800 and is currently making a run back for the $3K handle. But this is providing some resistance right now. Currently, we are just below $3100, in the midpoint between our levels at $2965 and $3148. It is reasonable for Ethereum to pause and seek value in this range, but the more comfortable we are around $3K, the more comfortable we will be breaking down to the $2K handle again. The Kovach OBV is all over the place, suggesting there is a lot of momentum in both directions as we seek to establish footing.
BITSTAMP:ETHUSD
by quantguy
Bitcoin Finds Support!!Bitcoin collapsed as low as $40K before finding support (as confirmed by a green triangle on the KRI) and recovering to $43.2K. It seems that Bitcoin is unwilling to give up the $40K handle for now. We should see prices equilibrate in the $43K-$45K range for the time being. The Kovach OBV is incredibly oversold, so we could see another selling wave come through. If so, watch for support in the $41K's, but if we test $40K again, it could be sign that we are getting comfortable with the low $40K's and likely to test the $30K handle again.
BITSTAMP:BTCUSD
by quantguy
2
V-Shaped Recovery for Stocks??After their meltdown yesterday (second worst in history by some sources), stocks have pared back losses, retracing just above the 50% Fibonacci retracement level of the entire move. Indeed, we appear to be seeing the typical 'V-shaped recovery'. We will see if further developments in the Evergrande saga can sustain current levels or if we will have another selloff. It looks like 4408 is providing resistance, confirmed by a red triangle on the KRI indicator. The Kovach OBV is rounding upwards, but not quite proportional to the recovery rally so we could see further resistance here. Watch for conviction at open to determine if we will continue to retrace this selloff, or if selling will continue. We could also establish value at current levels as the markets digest more news.
FX:SPX500
by quantguy
Stocks Plummet 📉😨Stocks have plummeted from the news that Evergrande, one of China's largest real estate developers, may file bankruptcy. This would effectively make them "China's Lehman Brothers". Risk sentiment is extremely risk-off right now. Stock indexes world wide have plummeted. The S&P has sliced through the 4400 handle with ease. We should have support from 4364 and 4350. If we catch support at these levels, we could retrace back to 4408, which would be roughly a 50% retracement of the selloff.
FX:SPX500Short
by quantguy
1
Litecoin Meeting ResistanceLitecoin has met resistance at upper levels in the $100 handle. A series of red triangles at $191 and $195 suggest that these upper levels were too much for LTC to sustain, and we have retraced back to value in the $180's. Currently, we appear to be flirting with support at $184, as confirmed by a series of green triangles at this level. This is a very narrow range for Litecoin, and if support does not hold, we might test the lower bound of the previous range at $174 again.
BITSTAMP:LTCUSD
by quantguy
Bitcoin Holds a Narrow RangeBitcoin has established value just above the range it was holding after the selloff. Currently, we are trading sideways in a very narrow range between $47.4K and $48.2K. There is a vacuum zone above to $49.7K, but we do not appear to have the strength to test it, at least for the moment. The Kovach OBV appears dead for now, and it will take significant momentum to break through to upper levels. But $49.7K is the last major level in the $40K handle, the final barrier to the $50K handle. If we break down, we should see support from $46.2K.
BITSTAMP:BTCUSD
by quantguy
Volatility in StocksVolatility has permeated stocks, but it does appear that 4440 is a bottom for now. We have attempted a 50% Fibonacci retracement of the selloff from highs, falling just short at resistance at 4487. We appear to be attempting to establish value in this broad range, and are currently testing support at 4464. The Kovach OBV is somewhat oscillatory, but appears to have bottomed out for now. The 50% Fibonacci level at 4492 will provide resistance, but after that, the next major level is 4505.
FX:SPX500
by quantguy
Bitcoin Drifts HigherBitcoin has gradually drifted up to break the upper bound of the range it had held between $43.8K and $47.4K. We are meeting resistance one level above at $48.2K. This rally seems very weak by crypto standards. The Kovach OBV has barely moved from lows, and the price action is clearly quite gradual compared to the large spikes of momentum that we typically see when Bitcoin breaks through a level. Watch for resistance here at $48.2K. If not, we have a vacuum zone to $49.7K, which is the last major level in the $40K handle.
BITSTAMP:BTCUSD
by quantguy
Stocks Get a LiftStocks have caught a bit of a lift from lower levels. We have reached as low as 4440, before catching a bit of a lift that brought us back almost to a 50% Fibonacci retracement of the entire bear move. We finally met resistance at 4487. The Kovach OBV has picked up notably, but has since slumped over. Be careful about this move, it could just be a relief rally into an overall bear trend. After all, September is a notoriously slow month and we still have some news events that could be of concern. If we continue to see momentum, 4505 would be a great target, as it is the 0.618 Fibonacci level and the first major level of the 4500 handle.
FX:SPX500
by quantguy
Litecoin Tests $190'sLitecoin has drifted up to test the upper bound of its range at $191. In fact, we were able to punch through this briefly and test the exact levels we mentioned before at $191 and $195. However we met swift resistance here, as confirmed by two red triangles on the KRI. There is a definite preference for the upper bound of the range, however, and currently we are sitting at about $189. But the Kovach OBV is still stagnant, and appears to have turned over, suggesting a divergence. Watch for support at lower levels such as $184 and $174. If we are able to break out, then $191 and $195 are the last levels in the $100 handle.
BITSTAMP:LTCUSD
by quantguy
Ethereum Tests Higher LevelsEthereum has inched above the highs of the range it has been holding since the giant sell off from the $4K handle. We had established the highs of the range around $3550, but are currently testing $3646. A red triangle on the KRI indicates that we are seeing some resistance at this level. This is a significant level because it is one of the last levels in the $3K handle and it is the 0.618 Fibonacci retracement level of the selloff from relative highs. Thus it will provide strong resistance. It is going to take some momentum to punch through. The momentum appears weak at the moment so it is doubtful we will catch enough steam to punch through this level.
BITSTAMP:ETHUSD
by quantguy
Litecoin FlatLitecoin has continued to range like the rest of the crypto majors. Despite the fake news that sent it back up to relative highs only to crash down right where we started, we are maintaining the range between $174 and $184. This is a very narrow range and we are due for a breakout soon. The next target is $191, then $195 will be the last target of the $100 handle. From below, we will have support from $169 and $158. The Kovach OBV is flat, suggesting the range will continue until we see enough momentum to break through these boundaries
BITSTAMP:LTCUSD
by quantguy
1
Bitcoin Continues to RangeBitcoin is ranging between $43.8K and $47.4K, the latter being a new technical level of resistance. We do appear to see some drift toward this upper bound, but no serious momentum. Thus it is likely we are to see further resistance here. Note that as the ranging continues, the probability of a breakout increases. We will see if Bitcoin has the strength to attempt to recover higher levels, or if it will prefer to its current range. We definitely appear to have established value in the $40K's, and at worst, the lower $40K's should continue to provide support. The next target on the upside is $48.2K then $49.7K.
BITSTAMP:BTCUSDLong
by quantguy
1
Stocks Slump Even After CPIStocks have opened the week by continuing a steady decline. To an extent, this is to be expected, because September is typically a slow month in the stock market. However, the CPI miss yesterday should suggest that we are to see the Fed walk back statements about tapering, which should be good for our portfolios. Due to this, we expected more of a risk on day yesterday. But a series of downgrades sent us to lower prices. We are finding support at 4440, and there is a cluster of levels below, down to 4421. If we do catch a lift, there is a vacuum zone to 4487. The Kovach OBV is quite bearish, but may have bottomed out, suggesting that we might see some life in stocks this morning at open.
FX:SPX500Long
by quantguy
Litecoin!! Fake News!! Volatility!! 😱😱Litecoin saw an incredible amount of volatility as news started circulating that Walmart was going to accept litecoin as payment. We reported this to you as the news broke in the comments to yesterday's Litecoin report. Sadly, this turned out to fake news as the tweet was taken down and Walmart swiftly denied it. We were also quick to report this in the comments as well. Needless to say, Litecoin rallied back up to highs in the $230's with a wick breaking just above relative highs from that rally we saw earlier this month. This was quickly sold back down and we ended back in the range we started: between $169 and $184. We will likely hold this range until more momentum comes through or more fake news. It is unfortunate that such a saga has tarnished the reputation of a project that is overall very good and actually suitable for payments on a large scale.
BITSTAMP:LTCUSD
by quantguy
Ethereum Continues to RangeEthereum is ranging with the rest of the crypto market. We had a bit of volatility bleed into ETH from news that Walmart was going to be accepting Litecoin payments. This turned out to be fake news, and the markets retraced all of that hype buying entirely. We saw support from lower levels in the $3K handle, namely, $3200 and $3148. We will have further support from $3K and $2965 if these do not hold. However, these lower levels are providing good support at the moment and appear to be great places to accumulate ETH.
BITSTAMP:ETHUSD
by quantguy
Bitcoin Ranges After Litecoin Fake NewsBitcoin faced a bit of volatility after the Litecoin-Walmart deal turned out to be fake news. We actually saw lower prices after that set in, and tested $43.8K, a level we have been eyeing in these reports for some time. We are maintaining the range between this and $46.2K. There is a cluster of levels in between, but otherwise, the two mentioned are good levels at which to consider a mean reversion trade. The Kovach OBV is pretty flat but trending down, so this could suggest a bear divergence.
BITSTAMP:BTCUSD
by quantguy
1
Malaise Setting In for Stocks??Stocks are finding support at 4462, after some volatility. It does look like we are stabilizing about this level for the moment, after making a run for support at 4440. September is usually a month of malaise for stocks, but we will see if we can get one more burst of risk on in beforehand. If so, we could test 4487 or 4504. The Kovach OBV is pretty bearish at this point, which may be a sign that we are oversold and due for a relief rally, even if it is just a brief respite. We still have a way to go before all time highs, and must cross 4521 and 4545 first.
FX:SPX500Long
by quantguy