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Ghostsquawk

Support for Eth??Ethereum has not caught the lift from the broader crypto market. It remains at support at $2400. This is a strong level of support and we are long here. If this level does not hold, $2232 will certainly provide support and will be the next level we look to accumulate. The Kovach OBV is very bearish and has flat lined. This shows that there simply isn't much life in this market for the moment. If ETH forms a bull wedge as we have anticipated it should find support at $2400 and seek out $2800 again.
BITSTAMP:ETHUSDLong
by quantguy
Bitcoin Testing Higher LevelsBitcoin found support at lower levels in the $30K handle and was swiftly bought back up to resistance at $37.7K, where we are currently hovering. It does look like we are in the process of forming a bull wedge or other consolidation pattern but we will continue to face resistance from $40K even if it does breakout. Broadly, Bitcoin is holding the range between $30K and $40K and will continue to do so until we see a significant bid. It appears larger players are holding out for lower prices.
BITSTAMP:BTCUSDLong
by quantguy
2
Stock Hugging HighsStocks have made a run for highs, but faced steep opposition there. We saw some big volatility yesterday, rejecting 4245, taking us back down 20 points to 4225, then retracing back again. There is a clear affinity for highs, but it will take some momentum to solidly break them. It could go either way so watch for momentum at the open. We still feel we are in need of a healthy retracement to 4188 or 4144, but we cannot deny the bull bias. The Kovach OBV is tapering up, but still pretty weak. Strong momentum at open will be key to a breakout. If so, our next target is 4272.
FX:SPX500
by quantguy
Litecoin Consolidating, Breakout Soon?Litecoin has seen a lift from lows. It is currently contending with levels in the upper $100 handle, facing $174 at the moment. It still has a way to go and many levels in the way before it can reach $200 again which seems to be a significant barrier for now. We saw support at $147, and we will see if it returns here to test this level again or forms a bull wedge while gaining momentum to break out into the $200 handle. The Kovach OBV is is still somewhat weak but has picked up notably. Expect consolidation and the continuation of our wedge pattern until we build enough steam to break out.
BITSTAMP:LTCUSDLong
by quantguy
2
Lift for Ethereum??Ethereum has received some support at $2400 and is tepidly testing $2651 at the moment. It will need some momentum to test $2800 again and eventually break this level. We can anticipate more ranging and consolidation as we have been seeing until it builds up the momentum to break through. Anticipate resistance at these upper levels and potentially a test of $2400 again or below. Our min lower bound appears to be $2232, but we also seem to be forming a bull wedge and could easily return to upper levels first. We need momentum for that, however and the Kovach OBV has flatlined. It appears we may be starting to see it turn up, though. This could be the beginning of a bullish attempt.
BITSTAMP:ETHUSDLong
by quantguy
1
Signs of Life for BTC??Bitcoin has seen some life recently as it has rejected the low $30K handle and made a run for what appears to be $40K. However, $37K is proving to provide some resistance and seems to be a significant barrier to the beleaguered BTC. We have a red triangle on the KRI at $37.9K, suggesting we may see a pullback from these levels, which are the only thing standing in the way of BTC and $40K. If momentum picks up we could test $40K again today. If not, we will likely see support at $33K. As stated before, $30K seems a min lower bound for now. The Kovach OBV is still weak but showing signs of picking up.
BITSTAMP:BTCUSDLong
by quantguy
Action Soon for Stocks??Stocks continue to maintain a very narrow range between 4214 and 4225. The longer it maintains this range, the more likely a breakout becomes. We feel that it would be healthy for stocks to feel out lower levels before making new highs, and are preparing for a dip down to 4188 or 4144. The Kovach OBV is still flat and our outlook will not change until we see some life again. Levels from above will provide formidable resistance such as 4245 and 4272. It is unlikely we will hit our target of 4293 any time soon.
FX:SPX500Short
by quantguy
Litecoin LagsLitecoin has dumped with the rest of the crypto market. We are back to the mid $100 range, quite a tumble from the $300's where we were trading about a month ago. We are seeing strong support from the uppermost level in a cluster of levels extending down to $134, which does seem to be a lower bound for now. The level $147 seems to be holding and we may be seeing an inverse head and shoulders forming. Watch out because the Kovach OBV is still quite bearish. A lift may take us back to $184, but we still have a long way to go before thinking about $200 again
BITSTAMP:LTCUSD
by quantguy
Ethereum Sees SupportAs we anticipated yesterday, Ethereum broke through to support at $2400, which has been a very faithful level recently. It rejected $2800, which seems to be a hard upper bound for now, and potentially the upper level to a bull wedge formation. We are currently seeing an inverse head and shoulders forming right around $2400 so we are likely to see support here and potentially get a bounce. The neckline appears to be at $2556, so watch for a breakout from here. There is a vacuum zone back to $2800 after that. The Kovach OBV is still pretty bearish so anticipate more general malaise until some momentum comes through.
BITSTAMP:ETHUSDLong
by quantguy
Meager Momentum for Bitcoin 🥱Bitcoin found support at our lower Fibonacci anchor at $31.4K. It caught a meager bounce here, but momentum seems really flaccid. The Kovach OBV is still solidly bearish and the small uptick in momentum here did not even register. It is tempting to think that we are seeing a double bottom at $31.4K, however we are more likely to see a bear wedge form. It looks like we may eventually make a run again for $30K, where we will certainly see support, but this level has been tested before and is the final barrier to the $20K handle. If momentum does continue, $36K will provide resistance (where it once provided support) so watch for a rejection here.
BITSTAMP:BTCUSDShort
by quantguy
Narrow Range for Stocks. Breakdown??Stocks are still maintaining a very narrow range at the apex of our Gartley pattern. The fact that they are not inclined to break to the upside suggests that we could be in for that selloff we've been anticipating. Watch the news and momentum in the morning. If there is not much hype backing stocks this morning, and we don't see momentum come through at open today could be the day we see our retracement. If so, watch 4188, or 4144 for support. The Kovach OBV is stagnant, and we have strong resistance from 4224 and 4245.
FX:SPX500Short
by quantguy
1
Litecoin Dumps Again!! 📉Litecoin has dipped again, shattering support levels and landing at support from a double bottom at $156. At least, we hope this is a double bottom. It does look like this could be a bear wedge in the process of forming, in which case, look out below. We have a cluster of levels between current prices and $134, which seems to be an absolute lower bound for now. That would be a great place to buy back. The Kovach OBV has fairly resistant to the overall dip in LTC, but it has finally priced in the selloff. We are looking pretty bearish right now on all fronts.
BITSTAMP:LTCUSDShort
by quantguy
ETH Dumps, Finding Support??Ethereum has dumped from upper levels. We have been saying that $2965 is the upper bound, but upon looking at the chart, it is more like $2800. This seems to be the upper bound with which ETH has flirted since the latter half of May. We could be seeing a bull wedge forming here, but it really depends on what ETH will do with the lower bound trend line which seems to correspond with $2400. If $2400 does not hold, then there is a vacuum zone to $2232. There is a lot going on with the ETH chain so we have faith in this platform but if things keep going this way we could be able to get ETH for <$2000 which would be a strong buy in our opinion.
BITSTAMP:ETHUSD
by quantguy
Bitcoin Dumps Again!! 😱Bitcoin has dumped again, this time finding support at $32K, which could be a new technical level. It seems roughly in line with the lower anchor of our Fibonaci extension levels. The lower bound still seems to be $30K, but the fact that Bitcoin seems to be making another run for this is not a good sign. As we have said before, the longer it is comfortable in the $30K handle, the more comfortable it is to break it. The Kovach OBV is very bearish right now, so we are forced to conclude that any rallies are just relief rallies into the overall trend. If we do catch some steam watch $36K to provide resistance again
BITSTAMP:BTCUSDShort
by quantguy
Stocks Stagnant... Dump Coming??Stocks seem unable to break past 4228, the level they attained based on NFP numbers Friday. If the S&P is unable to budge from this resistance level, it most assuredly will dump, and perhaps our Gartley pattern was correct after all. We are starting to see a bit of a dip back to 4214, and if this does not hold we will see support from 4188. Stocks do appear to be a bit overweight right now, and due for a correction, which could easily take us back to our target price of 4147, based on the CD segment of the cypher. The Kovach OBV is pretty stagnant so this could easily come to fruition soon.
FX:SPX500Short
by quantguy
Stocks Wavering, Looking WeakStocks are forming a bear flag with a POC right at our 4188 level, which is a technical level and a Fibonacci level. We have adjusted our stop loss just above 4228, but the more conservative could adjust it to break even, or a few ticks in profit. We have one more level from below, 4165, before our target of 4147. If we are wrong and we get a burst of momentum, then 4214 will be the first level to provide resistance. The Kovach OBV is still pretty flat, suggesting life has not returned to stocks and we need more enticing prices.
FX:SPX500Short
by quantguy
2
Litecoin RangingLitecoin saw some weakness over the weekend, but caught support at $169, which is a level we have identified many times in the past. We are currently facing resistance from $184 and even if we are able to break this, we will catch strong resistance from $200. There are many barriers in LTC's way. The Kovach OBV has stagnated completely so we do not anticipate it to break this range until we catch a signfiicant bid. From below $158 will continue to provide support if another selling wave hits.
BITSTAMP:LTCUSD
by quantguy
No Bid for ETHEthereum caught support at $2556, a level we have identified in the past. It is currently ranging between this and $2965, which appears to be a hard upper bound for now. Current prices are hovering roughly in the middle of the range for now, so we could either seek support at the lower bound or resistance at the upper bound. Expect strong resistance from $2965 and even stronger from $3000. It appears that ETH is still comfortable with the upper $2K handle and shows no sign of a curiosity for higher levels. The Kovach OBV is still pretty flat, and unless we catch a bid it will stay this way
BITSTAMP:ETHUSD
by quantguy
Bitcoin Malaise ContinuesBitcoin saw some weakness over the weekend sending it back down to $35K, which appears to be the new lower bound of support. We caught a meager lift here but are facing some resistance around $36.7K, a level we have contended with many times recently. The Kovach OBV is pretty flat, and has registered the selloff. If we don't see any momentum come through anytime soon, anticipate $36.7K to be a hard upper bound for now. If this is the case, the price will likely range between $35K and $36.7K. A strong selloff could take us back to $30K and a surprise bid could take us to resistance at $40K.
BITSTAMP:BTCUSD
by quantguy
2
Stocks Jump on NFP Numbers. What's Next??The NFP numbers Friday destroyed our short trade based on the otherwise reliable Gartley pattern. We have hit highs again at 4228, and if momentum continues we will seek 4245. Watch for momentum at open because we are at some serious levels of resistance which will take some momentum to punch through. If we do not see this momentum, we can strongly consider a short trade back down to 4188. If we see some bear momentum, our Gartley pattern has a target of 4144 or so. The Kovach OBV has jumped from the NFP momentum, but has since leveled off.
FX:SPX500
by quantguy
Litecoin StrugglingLitecoin has rejected $200 and fell to support at $169, the level we identified yesterday. We also said $158 would provide further support if this does not hold and we still maintain this position. The Kovach OBV has taken a dip down, suggesting this selloff had some legs to it. The entire market seems weak and it appears we may need lower prices to inspire some bids. If we do catch some momentum, then $200 is our next target. After that, we still have several barriers in the $200 handle before we can think about $300's again.
BITSTAMP:LTCUSD
by quantguy
1
Rejection in Ethereum!!Ethereum made a run for higher levels but has rejected $2965. We identified this level as providing significant resistance and that is what came to fruition. We are catching support at $2600, but if bear momentum persists, then $2400 would be the target. Unless we have a serious selloff, it is doubtful we will push lower than that, but $2232 would be the next target if we felt another wave. The Kovach OBV is seriously bearish, so we do not anticipate any significant bids any time soon. But if so, we must contend with $2965, before considering the $3K handle again.
BITSTAMP:ETHUSD
by quantguy
2
Bitcoin Rejects $40KBitcoin caught a lift to $40K but immediately rejected this level and is hovering back at support at $36K. This appears to be providing good support at the moment, but if it does not hold, beware of the vacuum zone down to $30K. The Kovach OBV is still very weak and appears to have turned over with this selloff, so the bear momentum here is still dominant. We must contend again with $40K if we catch some bull momentum, and BTC is clearly not comfortable leaving the $30K handle yet.
BITSTAMP:BTCUSD
by quantguy
2