quantguy

quantguy

Litecoin has slumped after holding on the high $60's for a few days. We noted the weakness and expressed trepidation for the bull rally in crypto. Subsequently, the crypto market sold off, and Litecoin smashed through $66.94 and $64.37, to find support just above $60. We anticpate this level to hold, but if it sells off further, then $55.84 should hold as a...

quantguy

Ethereum has solidly rejected relative highs around $2K, and made a nose dive to seek out lows established during the selloff on May 12th. On that date, we had a wick extend down to the base of the $1700 handle, with several support levels above that to provide a buffer as we saw at the end of May. In particular, $1717 and $1748 seem to be holding nicely, and we...

quantguy

We warned readers that the Bitcoin rally may be short lived and that we were skeptical of the bull run. Sure enough, Bitcoin gave up up the $30K's where it appeared to be establishing value and collapsed right back down to the high $29K's. It is currently in the value area that it had held for two weeks, after the huge selloff on May 12th. The Kovach OBV is...

quantguy

Oil pivoted nicely off of $111, after peaking at around $120. We hit resistance here, and retraced, however we can identify no fundamental reason why oil should test lower prices. The $100's are here to stay for the foreseeable future. We did get a nice pivot from $111, which took us back to our level at $116 at the time of this writing. If we are able to...

quantguy

Stocks have retraced, hitting our exact target of 4068 and finding support. Recall that this was the head of the inverse head and shoulders pattern that failed mid May. Failed inverse H&S patterns are usually bearish omens and stocks were in the doldrums for basically the rest of May. However toward the end of the month, we were able to break out, but 4068...

quantguy

Litecoin has leveled off around $68. We were able to break past two strong levels at $64.37 and $66.94, before momentum petered out. We are currently holding a very narrow range just above $66.94. We have a bit of a vacuum zone up to $73.62. We do not feel that LTC has enough in the tank to even cross the vacuum zone to attempt this level, but if it does,...

quantguy

Ethereum has topped out just below our level at $2025. It seems that the $2K's are still a barrier, and we have since retreated to comfort in the high $1900's. The Kovach OBV appeared to be edging up, but has since retreated with the retracement. We should see good support from $1906, and there are two more levels below in the $1800's: $1872 and $1821, before...

quantguy

Bitcoin has lost momentum, but is holding the range between $31.0K and $32.3K. We are seeing support from below and resistance above confirmed by the KRI. This seems to follow in tandem with stocks, which are also ranging. The Kovach OBV has gradually trended upward, but appears to be leveling off. There is a vacuum zone above to $34K, which we expect to hold...

quantguy

Oil has retraced a bit, after a fresh burst of momentum took us past 116. We appeared to be gunning for 122, but lost momentum in the middle of the vacuum zone, with several red triangles on the KRI suggesting that the rally was encountering resistance in this area. Subsequently, we smashed through 116, finding support just above 113. Currently, we are meeting...

quantguy

Stocks appear to have topped out for now just under our level at 4214. We've since retraced, finding support at 4122, just above the vacuum zone to 4068. We are seeing several green triangles on the KRI which confirm the support. It seems that stocks are ranging and establishing value between 4122 and 4178. Optimistically, we might be forming a bull flag...

quantguy

Litecoin has gained strength with the rest of the crypto market off of the stock market rally. We saw a rounding bottom form lows just above $60, with a nice rally taking us back to just below $70. The Kovach OBV is still a bit lackluster, so we will see if Litecoin has enough momentum to sustain this rally. It seems that crypto is really tied in tandem with...

quantguy

Ethereum has rallied with the rest of the crypto market, who got a lift off the back of stocks. It was looking pretty abysmal there for a while, testing the relative low of the selloff on the 12th, before gaining steam to recover the $1900's again. The Kovach OBV has gradually trended up, but we remain skeptical until ETH can recover the $2K handle solidly. ...

quantguy

Bitcoin caught a nice rally as crypto saw an influx of buying momentum from the stock market rally. We were finally able to break through $31K, which was a hard upper bound for a two weeks. We were able to hit our next target at $32.3K, with a wick barely touching it before retracing to the mid $31K's. So far, the targets in these reports were spot on. Recall...

quantguy

Oil has rallied significantly off news that the EU is planning to ban Russian imports of oil , despite the fact that Russia supplies 27% of the EU's oil and 40% of its gas. Crude oil prices soared off this news and we were able to smash through a relative high at $116. This was our target from earlier. Recall that last week, we noted oil's relative strength...

quantguy

The S&P 500 has broken out of the malaise it has held all of last week. China seems to be reopening which has investors breathing a sigh of relief. After the inverse head and shoulders breakdown, we saw tremendous resistance and stocks were in the doldrums, hovering in the 3800-3900 range with 4K a hard upper bound. The neckline of our failed inverse H&S...

quantguy

Litecoin has extended its decline exactly as we had predicted. Recall that we noted several factors that pointed to a continued selloff. The price action was 'rounding off' as we have illustrated on the chart. Highs were getting lower and the Kovach OBV has turned south. Lower levels were providing little support and we have just now cracked the lower bound at...

quantguy

Ethereum has fallen through the vacuum zone in a dramatic selloff back to lows at the base of the $1700's. The selloff on the 12th took us to $1694, and we are finding support just one level above that at $1717. We are starting to see mounting support confirmed by several green triangles on the KRI, but the lack of a buyback or pivot is concerning. The Kovach...

quantguy

Bitcoin has slumped, but is still maintaining the range it has held for the past two weeks. The $30K's have remained a barrier for BTC, and we have tested lower levels at $28.8K and $27.9K several times. Yesterday, things started to look pretty gloomy, but $27.9K was able to provide support and we have since equilibrated. But highs are lower, and the Kovach OBV...