quantguy

quantguy

Profit taking carnage has spilled over into NEO as well. Currently it is hovering around the $70, psychological and technical level corresponding with the 0.75 Fibonacci Fan level. Both Kovach Momentum indicators are bullish, but we appear to be in Wave 4 of the 5-3 Elliott Impulse wave. Be prepared for more retracement as we complete Wave 4. At this point,...

quantguy

Ripple still appears to be consolidating in a dragon head pattern, finding support around $0.70 a psychological level which coincides with a Fibonacci level. Clearly some retracement should be expected after XRP’s breakout in mid-December. We anticipate further pullback, optimally to $0.52 or so which corresponds with a Fibonacci Level and the central moving...

quantguy

As noted yesterday in our newsletter, IOTA was indeed coiling up for another breakout as it rejected the central moving average of the KRI, and broke out from the dragon head pattern, testing the upper bound of the KRI before letting up steam. It seems IOTA is a bit ahead of the other Altcoins in terms of the Elliott Wave. It appears to have completed the...

quantguy

Bitcoin Cash has broken out yet again crushing all-time highs at $2800, hitting nearly $3700 before retracing. We can thank the popular platform Coinbase for this push, which is the largest venue for Crypto investors. We’ve had to re-center nested Fibonacci levels to account for this rally, and currently BCH is hovering around $3250, a strong level of support. ...

quantguy

Ethereum Classic is the only other Altcoin on this list besides BCH which has maintained its bull momentum, consistently testing the upper bound of the KRI. Long wicks on the candles do suggest some ambivalence, and the red triangle on the upper bound of the KRI marks a rejection pattern yesterday. But otherwise, the Kovach OBV is still strong, and the Kovach...

quantguy

Bitcoin has pulled back from highs, dipping into the upper $15K handle which marks the corrective phase of the Elliott Wave. Although many Altcoins also appear to be in the same cycle, as investors appear to be taking profits, some notable exceptions, including Bitcoin Cash and Ethereum Classic have driven up the index, which is confirmed by the Altcoin Spread,...

quantguy

ETC has continued to face resistance against its attempt to breakout from the dragon head pattern discussed previously. Although it has briefly made new highs at the psychological $34 level, it seems to be facing increased resistance at the upper bound of the KRI at $32.75 or so. We may see some further consolidation, but the red triangle on the KRI indicates a...

quantguy

IOTA has consolidated around the psychological $4 level, as it clarified news about a partnership with Microsoft yesterday. While some retracement was likely, we will see how much investors weigh the relationship with Microsoft as IOTA either breaks out from this dragon head pattern or retraces further. The next level of support is a Fibonacci level of...

quantguy

Neo has continued its breakout making new highs at $54.70, which is the anchor of the Fibonacci Fan level. It has continuously tested the upper bound of the KRI, indicating that some pullback is near but the bull candles seem to be growing in strength. We have strong support at $45, which is a Fibonacci Fan level and the base of today’s candle. If you enjoy...

quantguy

ETH has continued its breakout, but momentum is waning at the $690 Fibonacci Level. After new highs broke upwards of $750, we have retreated to the safety of the $600 handle. The Kovach Momentum Indicators paint a rosy outlook in the long term, even if we have hit a speed bump here. Multiple levels provide support from be low, and we should be prepared for a...

quantguy

The Altcoin index has regained momentum and shot forth from its pullback yesterday. The crypto spread indicator still suggests that altcoins are in control, though as several major players have pulled back or consolidated, this lead is narrowing. As Bitcoin faces some (likely short-lived) ambivalence at highs, further retracement should definitely be considered...

quantguy

Although LTC has broken new highs again at the psychological level of $350, it has faced a sharp pullback to $286 at the time of this writing and has retraced all of these gains. We are likely to see more pullback and consolidation at this point into a dragon head pattern, as LTC acclimates to its new heights. If we see a retracement we will likely find support...

quantguy

LTC has continued its breakout with momentum that seems to challenge IOTA’s run weeks earlier. It has demolished technical and psychological levels, finally finding some resistance around new highs in the $300 handle. We are likely to see consolidation and retracement, at some point, into a dragon head pattern before another breakout. The nested Fibonacci...

quantguy

Ethereum has blasted through various psychological and technical levels to solidify its grasp on the $700 handle. It seems to be gaining steam at this point, which clearly constitutes wave 3, the longest and strongest of a 5-3 Elliott Impulse Wave. It is difficult to determine when ETH will find resistance, as it has smashed all profit targets besides Fibonacci...

quantguy

Ripple is another Altcoin that just hasn’t gotten the memo lately. It remains bound from below by the anchor line of the Fibonacci Fan at $0.208, which has continued to faithfully provide support, though the 0.75 level provides resistance at $0.254. We appear to be forming a massive bull wedge pattern beginning in August. If history serves as a good indicator,...

quantguy

Litecoin has finally seen a much-anticipated breakout with strong momentum that has lasted for several days despite pausing for air yesterday. We appear to have entered the next cycle of the impulse of a 5-3 Elliott Wave, confirmed by several long green candles. We’ve continued to break into new highs, and what was once a price target of $138.50 now provides...

quantguy

As Bitcoin solidly enters another rally, Altcoins seem paltry by comparison. Although the Altcoin index has made a slight uptick, it seems to be forming a wedge pattern which indicates consolidation and preparation for another breakout. The double top discussed numerous times in previous commentary should continue to provide resistance. The Crypto Spread...

quantguy

At this point, Neo seems to be reminiscent of the children's book with the train who kept iterating "I think I can! I think I can!". It keeps chugging along, maintaining lackluster, but some consistent gains despite other altcoins having numerous breakouts since. Although the Kovach momentum Indicators are still bullish, they do seem to be waning. The 0.5...