Get started

Ghostsquawk

Momentum Due for Stocks?? 📈Stocks tumbled Friday, taking us to lower levels of support. We have identified these in the last report and we have tested these levels to the tick. In particular, we saw support at 4487, before testing 4462 which appears to be holding for now, confirmed by a green triangle on the KRI. We are testing 4487 from below again, but will need momentum to pierce through it. We are anticipating another wave of risk on to come through stocks this week, so watch for the S&P to gain some traction and test higher levels including 4487, 4505 and 4521. We have a way to go before considering new all time highs, but 4564 is the next target after this.
FX:SPX500Long
by quantguy
Bitcoin Tests SupportBitcoin is testing support at the lower bound of its range between $43.8K and $46.2K. We should see some support here, but the Kovach OBV is tapering downwards, which could suggest a bear divergence. Current levels are a good place to consider a long position, as we have good support here, and the risk management is tight. If we do break $43.8, we will likely test lower levels in the $40K handle. The level to break remains $46.2K but after that we should be able to break through the vacuum zone to $48.2K
BITSTAMP:BTCUSDLong
by quantguy
Ethereum Trades SidewaysEthereum has made a run for higher levels, forming a bear wedge with an upper bound around $3550. This gave bulls some high hopes of a breakout, but reluctantly, we have rejected these higher levels for now, and have broken to the downside. We are seeing support at $3324, a level we have been discussing in these reports for months. Savvy readers would have been able to anticipate support here for as we've discussed it many times. It is clear ETH is establishing value in the range between $3324 and $3550 or so. From here it could go either way. If it breaks down further we will have support from $3200 next. If we manage to break through $3550, then $3646 is the next target.
BITSTAMP:ETHUSD
by quantguy
Litecoin RangingAfter plummeting from the $200's, Litecoin has found support at $169 the head of the inverse head and shoulders pattern from which it broke earlier. This is effectively a full retracement of the move it made which brought us to the $200's in the first place. We are currently ranging, establishing value again between $169 and $191. From here it could go either way. If we break down, then $169 should provide support. But if that does not hold, then $158 is the next level down. On the upside, $191 and $195 are the next levels to break, then we can consider the $200's again.
BITSTAMP:LTCUSD
by quantguy
Bitcoin RangingBitcoin continues to range after finding support at a cluster of levels in the $45K to $46K range. It is clearly seeking to establish value after the dump from the $50K handle. This is a rather narrow range for Bitcoin, so we may anticipate a breakout soon. The Kovach OBV is trending up slightly, which could signal a bull divergence and thus perhaps a bull breakout is to follow. Watch $48.2K for the next target if we do see a bull breakout. We appear to have good support from lower levels but if these don't hold, we will see support at $43.8K
BITSTAMP:BTCUSD
by quantguy
Bull Wedge in Ethereum??Ethereum has found support in the lower $3K handle after plummeting from $4K. We do appear to be tending up toward to the mid $3K's at the moment, but appear to be bounded by $3500. Three red triangles on the KRI seem to confirm the resistance. We do appear to be forming a bull wedge suggesting that Ethereum may be building up steam for a breakout. The Kovach OBV is picking up slightly, which may support this. If so, the next target will be $3646, then $3861, which is the last level of resistance before we can think about the $4K's again. If another bear wave comes through we should see support around $3200, then $3000.
BITSTAMP:ETHUSDLong
by quantguy
Bitcoin Finds Support!After tumbling from the $50K handle, Bitcoin appears to have stabilized in the mide $40K's. We have found good support from our levels between $45K-$46K. Recall that there is a cluster of these around this price range, and we gave you a heads up that support was likely. Currently, the price action is completely flat, suggesting that Bitcoin is digesting these lower prices and establishing value here. If we do catch some momentum, the next level above is $48.2K. If we are able to break current levels, we should find support from $43.8K.
BITSTAMP:BTCUSD
by quantguy
Stocks Finding Support??Stocks have been gradually trending downward since highs at 4545. We have broken through several levels of support including 4521, and 4504. We finally found support at 4487, to the tick. We've called out this level many times in the reports. This would have made a nice level to buy back at least for a quick scalping trade. Currently we are testing 4504 again from below but are facing resistance. The Kovach OBV is gradually tapering up. Watch for momentum at open, but we could see some bull momentum. The next target is 4521, then 4545. If bear momentum continues, watch the vacuum zone down to 4462.
FX:SPX500Long
by quantguy
Litecoin Crashes!! Finds Support??Litecoin has dumped from its position in the $200 handle. It looked like we had solidified the $200's after a massive rally that bested many of the other majors. This followed an inverse head and shoulders breakout that we identified at the end of August. We do appear to be getting good support from the levels at the head and neckline of the inverse H&S, including $169 and $174. Currently, we are seeing quite a bit of volatility suggesting that we are trying to establish value at these levels. We are currently testing $184, but a red triangle on the KRI suggests that we are going to see resistance here. We are still looking technically weak, but the Kovach OBV has leveled off suggesting there is at least an attempt to equilibrate at these levels. It may be a good idea to start accumulating a position here, but if the fallout is not over, then $158 will continue to provide support.
BITSTAMP:LTCUSD
by quantguy
1
Ethereum Dumps!! 📉😭Ethereum has plummeted from relative highs at $4K, spanning $1K to test $3000 before it recovered and equilibrated finally in the mid $3K's. It appears to be finding good support at $3200, as confirmed by a green triangle on the KRI. Watch for ETH to establish value here and potentially form an inverse head and shoulders before making a run for higher levels and potentially regaining the $4K handle. We are still looking technically quite weak, so if you do start to accumulate a position, be ready to buy at lower levels such as $3200 or $3148. The Kovach OBV is bearish but has at least stabilized.
BITSTAMP:ETHUSD
by quantguy
Bitcoin Plummets!! 📉😱Bitcoin has smashed through lower levels to find support in the mid $40K handle. We rejected $52.8K, which was the next major level we had to break before we could achieve the mid $50K's. The selloff took us back to $43K at the lowest, before we were able to recover back to the mid $40K handle. Currently, we are finding support at a cluster of levels around $45K, and we see some green triangles on the KRI as confirmation. But the last of these levels, $46.2K appears to be providing resistance and Bitcoin still looks technically quite weak. The Kovach OBV has plummeted, and is still bearish, which may suggest there might be more fallout to come. Wait and see what happens around the $45K-$46K price range. There is strong support at these levels, so if we were to see Bitcoin stabilize, it would be here. Watch for a bull consolidation pattern such as an inverse head and shoulders to form around here for an insight as to whether we will recover to the upper $40K handle or the $50K's.
BITSTAMP:BTCUSD
by quantguy
Stocks Tumble, Find SupportStocks fell from from the range they were holding between 4521 and 4545. We anticipated a break out or break down as they had been holding this all last week. We caught some support at 4521 and made an attempt to establish value here, but another wave of selling took us to support at 4504. We should find support here but if we see another wave of selling, 4487 will be the next level down. The Kovach OBV has turned sharply bearish, reflecting the selloff. However we have two green triangles on the KRI suggesting that 4504 is likely to hold for now.
FX:SPX500
by quantguy
Bitcoin Rejects Highs!! Check out our Trading Idea 🤓📈Bitcoin faced a sharp selloff at relative highs at $52.8K, which brought us down to support around $50K. If you recall, we proffered a trading idea where if bitcoin could definitively break $50K, and retrace, then we would enter a long trade at this level. This trade is now in effect, and we are using the lower wick at $50K as an idea for a stop loss. A green triangle on the KRI further supports this trading idea. The profit target would be relative highs at $52.8K or so, but we will keep monitoring the trade for momentum either way. The trade has more than a 4:1 risk:reward ratio, which is pretty good for crypto. If we are wrong we will find support at $49.7K. Both the Kovach OBV and Chande have dipped notably, suggesting we are oversold.
BITSTAMP:BTCUSDLong
by quantguy
Can Stocks Sustain Highs??Stocks have been ranging between the 4521 and 4545. They have been ranging for over a week now. Observe the red triangles at the upper bound of the range from the KRI indicator, and the green triangles at the lower bound of the range. These mark perfect entry points for range trading. We are flirting with new highs, so it is highly likely that stocks will breakout, one way or the other. We will see if they have the momentum to sustain ranging at highs, or if they will retrace. If so, 4504 and 4487 will provide support. If we breakout, then 4564 is our next target.
FX:SPX500Long
by quantguy
1
Lots of Action in Litecoin!! 📈💥Over the weekend, Litecoin had a tremendous rally, breaking through the $200 handle and blasting through several levels to the upside. It achieved about $230 before running out of steam. Unfortunately, LTC has given back much of its gains, retracing back to support at $200. We are seeing a green triangle on the KRI, suggesting the $200 handle will hold for now, and this may provide a great entry point for those looking to accumulate a position. If $200 does not hold, it is back to the $100 handle, with $195 and $191 to provide support next.
BITSTAMP:LTCUSDLong
by quantguy
1
Ethereum Rejects Highs!! 😨Ethereum has rejected relative highs. Many of us had highs hopes for the $4K handle, which would have been a strong sign that we were ready to make new highs again. We are seeing strong support from our level at $3646, finding support just above it, as confirmed by a green triangle on the KRI. In fact, we have already retraced about hald way through the vacuum zone between $3646 and $3861, which is a good sign. Watch that lower level because if it does not hold there is a vacuum zone back to $3473.
BITSTAMP:ETHUSDLong
by quantguy
1
Stocks Await Non Farm Payrolls DataAs we suggested in the previous report, stocks are generally ranging until news from one of the most significant data points traders can have: Non Farm Payrolls. This is particularly significant because a lower than expected reading will signal that tapering from the Fed is likely off the table until well into next year. In a Central Bank driven economy, this will drive stock prices higher. Currently, the S&P is ranging in a well defined value area from 4521 to 4545, though we are seeing a clear affinity for the upper bound of this range. Recall that 4564 is our next target, which should be easily within reach depending on how the markets digest NFP. We have support from 4504 and 4487 below, if volatility kicks in.
FX:SPX500Long
by quantguy
Litecoin Breaks Relative Highs!!Litecoin has gotten love from the crypto rally, breaking out past relative highs at $191, which we have added as a new technical level. We are facing resistance just above this level as confirmed by a red triangle on the KRI. We are likely to test the next level at $195, which is the last point of resistance before we can attempt the $200 handle. If we retrace, we should see support from $184, but it looks like Litecoin is gearing up for another breakout.
BITSTAMP:LTCUSDLong
by quantguy
2
Ethereum Testing $4K!! 🎉📈Ethereum has been on a solid rally since our head and shoulders pattern failed to break. Recall that a failed head and shoulders pattern is usually a very bullish sign and this is one example. We have broken out from a consolidation pattern bounded by $3861, and are currently facing issues with the psychological $4K level. A red triangle on the KRI confirms the resistance. Immediately above that, we have a resistance level of $4020, which should provide resistance as well. After that, there is a vacuum zone to $4.8K but we will likely establish more levels between that if we can break into the $4K handle.
BITSTAMP:ETHUSDLong
by quantguy
4
Bitcoin Holds $50K!! 🚀🌕Bitcoin has found support at our level at $48.2K and rallied back to $50K. It is showing a clear affinity for these higher levels, suggesting a breakout may finally be on the horizon. Recall that we must solidly break out from $50K to solidify the bull rally that took us from the low $30K handle back up to current levels. We are sitting at about $50K exactly right now, and the fact that it has not rejected this level yet is a great sign for bulls. Immediately above, however, we will see resistance from $50.8K, but we are seeing a bull wedge forming suggesting that Bitcoin is building up steam to break out. After this level, the next target will be $52.8K, and this should solidly claim the $50K handle if we can achieve this level.
BITSTAMP:BTCUSDLong
by quantguy
1