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Kovach

Bitcoin Slumps, Shows Little Bull Conviction 🥱Bitcoin has slumped, but found support at $43.1K, exactly as we have predicted in these reports. Bulls were hoping for a stronger pivot, but what transpired was quite flaccid. We were unable to break the next level at $43.8K, a meager $700 away. The Kovach OBV has flatlined after dropping substantially. This means we need to see momentum come through either way before something interesting happens. However, the price action is looking quite weak. At this point we could test levels in the $41k-$42K range, with a lower bound at $40K. If we break out, our next target is $45K again
BITSTAMP:BTCUSDShort
by quantguy
Can Stocks Recover??Stocks have retraced exactly to our level at 4462. Recall that this was the exact level we predicted yesterday. Stocks edged lower as they digested hawkish Fed minutes , and an increasingly Orwellian Covid lockdown situation in China . It does appear that we may be in the final stages of a corrective impulse and might be gearing up for another breakout. Stock futures should price in this news and break out at some point. The Kovach OBV has dropped but may appear to be bottoming out. Anticipate support from 4462 and 4440. The latter is a significant level, and if broken, we will likely test lower levels in the 4400's. If we are able to break out, then 4580 and 4632 are the next targets.
FX:SPX500
by quantguy
Volatility Narrows in GoldVolatility in gold has fallen substantially. We have been holding the broad range between 1895 and 1956, which narrowed to 1917 to 1936. Currently, we are in the middle of this latter range, stabilizing around 1925. When volatility consolidates, a breakout is near. Volatility has been consolidating for more than a week now, so a breakout should be imminent. If we break out, watch 1956 as a profit target, if we break down, watch 1895, the upper and lower bounds of the broad range, respectively.
COMEX:GC1!
by quantguy
Bonds Sell Off on Hawkish Fed MinutesBonds are back to hugging lows, after a brief attempt at higher levels. We found immediate resistance one level above at 121'00. Even the rally to that level encountered serious resistance at every step, confirmed by red triangles on the KRI. We are back to lows again at 120'14. The Kovach OBV is very bearish so we can expect an imminent breakdown to lower levels. Our next target is 119'23, which is significant as we will have given up the 120's all together.
CBOT:ZN1!Short
by quantguy
Can Ethereum Hold $3K??As predicted in these reports, Ethereum fell to $3200, where it found strong support. We actually have two strong levels around this price area, $3148 and $3200. Support should hold for now, but if not, expect further support at the base of the $3K handle, which we expect to hold as a floor for now. The Kovach OBV has arced over, which could suggest the beginnings of another bear rout. However, if we can muster a pivot off current levels, then $3324 is the next target.
BITSTAMP:ETHUSDLong
by quantguy
Bitcoin DUMPS!! What's Next??Bitcoin took a dive in close alignment with stocks yesterday. As predicted right here in these reports, BTC gave up the $45K-$46K range, finding support exactly where we said it would at $43.1K. The Kovach OBV has turned sharply south, but we do appear to be finding good support at current levels as confirmed by green triangles on the KRI. If we pivot from current levels, watch for stability in the $45K-$46K range again. If we selloff further, then we should have further support in the $41K-$42K range, with $40K being a floor for now.
BITSTAMP:BTCUSDLong
by quantguy
Breakout Soon for Gold??Volatility in gold has narrowed considerably. We were holding the broad range between 1895 and 1956, which narrowed to 1917 to 1936. Currently, we are in the middle of this latter range, stabilizing around 1925. When volatility consolidates, a breakout is near. Volatility has been consolidating for more than a week now, so a breakout should be imminent. If we break out, watch 1956 as a profit target, if we break down, watch 1895, the upper and lower bounds of the broad range, respectively.
COMEX:GC1!Long
by quantguy
Litecoin Dumps!!A wave of selling has afflicted Litecoin, taking it past support at $120. We are currently attempting to find support in the $114 to $120 range. It appears that Litecoin was forming a bear wedge, as we mentioned earlier, and we may be in the stages of breaking down. If so, watch for it to cross the vacuum zone to $114 and if that doesn't hold then $109 should provides support. The Kovach OBV has sloped downwards, confirming the rout. If we can pivot from current levels we should be able to reach $124, and perhaps establish a range between this level and $120.
BITSTAMP:LTCUSDShort
by quantguy
5
Bitcoin Slammed Back to Relative LowsBitcoin took another dive after flirting with the $45K's. We were encountering choppy trading with thin volume and the Kovach OBV has completely leveled off confirming the ambivalence. We do appear to be seeing support just below $45K, but if this does not hold, there is a vacuum zone back to $43.8K. We will have further support around $42K and $40K if the selloff continues. If we are able to pivot from current levels, then $$47.4K is the next target.
BITSTAMP:BTCUSDShort
by quantguy
Ethereum Tests Highs... Can it Break Out??Ethereum is testing highs at $3563, though the price action is rounding off, and the Kovach OBV has flatlined. This suggests that we may see a retracement soon. If so, anticipate support at $3324, or $3200. Weakness appears to be setting in with the crypto market, but if not, it will take considerable volume to break $3563, and the next level above at $3646. We have significant resistance above, confirmed by red triangles on the KRI. If we are able to punch through then $3765 is the next target.
BITSTAMP:ETHUSD
by quantguy
1
Bitcoin Wavers, but Still has SupportBitcoin is maintaining the $45K-$46K range, and has consolidated considerably. We found good support at $45K, with a small pivot back to the $46K handle, with strong support from $46.2K. We appear to be forming a bull pennant pattern. Momentum has flatlined as measured by the Kovach OBV, and we will need to see another wave of bids come through before we can test $47.4K again. We have two strong levels at $48.2K and $49.7K before we can consider the $50K's again. If not, we are likely to break down and find support at $43.8K.
BITSTAMP:BTCUSD
by quantguy
Can The DXY Break Through Highs??As predicted, the US dollar has made a run for highs, breaking through 98.82. We appear to be slowing and perhaps running out of steam, but are finding support at 98.82 right now. We are currently in the vacuum zone between 98.82 and 99.40. If we are able to catch another burst of momentum, then we should be clear to test highs again at 99.40. We are starting to look at bit weak though, and if we fall through the vacuum zone below we should find support at 98.22. Broadly, we expect the long term range between 97.73 and 99.40 to hold.
TVC:DXY
by quantguy
The S&P 500 is Ranging, Can it Break Out??After topping out at 4632 as we anticipated, stocks have tested 4521, but appear to be equilibrating. We have mentioned that it is likely that the S&P 500 would either retrace or form a sideways corrective pattern and it appears the latter is the case. We are currently testing 4580, after which we have a vacuum zone back to 4632. It will take some volume to push us through this so watch for momentum at open. If this doesn't come through watch for continued support at 4521. If we break through this, watch 4462 and 4440 for further support.
FX:SPX500Long
by quantguy
Will Litecoin Break Out??Litecoin has retraced as anticipated, but has found support at $120 which we have also predicted here in these reports. We found great support at this level and attempted another bull run. However we are facing some resistance at our level at $130, and retraced back to support at $124. We should expect for Litecoin to equilibrate somewhere between $120 and highs at $134. We will need to break $134 before considering higher levels with $141 being the next target.
BITSTAMP:LTCUSDLong
by quantguy
3