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Ghostsquawk

Bitcoin Finds SupportBitcoin reached $59.4K, before a sharp retracement brought it back down to $57.7K. We do seem to be finding support here, but a further retracement could easily bring us to $55.7K or $54.3K. This is not the momentum we anticipate on a proper crypto moon. It seems that Bitcoin is complacent at maintaining the range between $50K and $61.5K for the time being. In the broader sense, we are definitely in a sideways correction pattern and this is likely to continue until some momentum builds. The Kovach OBV is very gradually picking up steam but again, this is nothing significant with respect to what we have seen for Bitcoin.
BITSTAMP:BTCUSDLong
by quantguy
1
What will it take for Stocks to Break Out??Stocks have retraced a bit from relative highs. The Kovach OBV is strong but has leveled off suggesting that we could range a bit at current levels. It is highly likely that the S&P will form some sort of consolidation pattern, either a wedge, flag or sideways continuation before the breakout. The retracement was paltry with respect to our expectations. The level 3909 seems reasonable if we dip further. If not, there is 3937. Look to the open for signs of momentum, and watch 3987 for resistance. if we see a lot of buying at this level then we can expect a breakout.
FX:SPX500Long
by quantguy
Ethereum Catches Momentum!!Ethereum has caught some serious momentum. It broke through some strong resistance at $1750, the neckline of our head and shoulders pattern from which we broke down last week. We are currently facing resistance at $1821, which is reasonable considering just yesterday we were still in the $1600 handle. The next resistance level is $1872, then $1906. We are likely to see at least a technical retracement before then. We will definitely see support again at $1750.
BITSTAMP:ETHUSDLong
by quantguy
Glad We HODL'd Bitcoin!!Bitcoin has gotten another lift and is currently at the $59K to the penny at the time we are writing this. The next significant level to break is $59.5K, then we are clear for highs at $61.5K. Although we are catching some serious bull momentum, we are still broadly in a range bounded by highs. If BTC cannot muster the strength to burst through highs soon, then it is likely to continue the range and consolidate in a bull wedge or bull flag pattern before breaking out to all time highs again.
BITSTAMP:BTCUSDLong
by quantguy
Stocks Reject Highs!!The S&P has continued to climb, and we have met relative highs again near 3987. However we are currently facing resistance here. We saw a swift rejection from these levels and have just breached the vacuum zone after breaking 3963. We will see support again at 3937 and 3928. It will take some momentum to break through these relative highs which will provide significant resistance after this most recent rejection. It is more likely that we will see some ranging behavior over the next few days bounded from below by 3867. We should see a consolidation of volatility which will precede a breakout.
FX:SPX500Long
by quantguy
1
PROFIT TARGET REACHED IN LTC!!We reached out second profit target in Litecoin just now at $195!! Our first profit target was hit over the weekend at $184. Those who were paying attention and took this trade would have made a sweet 11% profit! The Kovach OBV is registering the bull momentum. But we are at a significant level at the moment, which could provide some resistance and we may range between $184 and $195 until another wave of momentum comes through. When it does, we will secure the $200 handle, in particular, $202 and $209.
BITSTAMP:LTCUSDLong
by quantguy
Nice Pump for BTC!We finally got a nice burst of momentum in Bitcoin, which was in the doldrums for a while. This pump is significant and was enough to turn the Kovach OBV sharply bullish. This indicator was flatlining at lows for some time. At this point we appear to have an inverse head and shoulders forming which is also a bullish sign. The next significant level would be $59.4K. Then we will be able to consider the $60K handle again with the first significant level at $61.6K after that. If we see resistance from current levels at $57.5K or so, then we could continue to range for a bit before considering these higher levels.
BITSTAMP:BTCUSDLong
by quantguy
Stocks Get a Much Needed LiftStocks caught a lift at market open. We've reached 3978 before facing a bit of a retracement. The Kovach OBV is strong which could suggest momentum is back. It's about time the malaise lifted for the S&P. We still need to break relative highs at 3987 to be considered properly bullish. We will definitely face resistance here. Then the next target is 4009. It is looking a bit overextended at the moment, so a pullback may be anticipated before we can break out. If this is the case, we could see levels as low as 3909.
FX:SPX500Long
by quantguy
Litecoin Bottomed Out??Litecoin has retraced all the way down to $169, where we found support and are hovering around $175. This is the target price of our inverse head and shoulders breakdown. It is the inverse Fibonacci extension of levels anchored at the head and shoulders. We should find support here. This is an incredible discount on Litecoin, and we believe the carnage should be coming to a close right around here. If not, $158 is the next level below. Levels which once provided support at $184 and $195 are now our price targets.
BITSTAMP:LTCUSDLong
by quantguy
Bitcoin Correction Over?? Still HODLin'Bitcoin has taken another dive yet we still remain bullish. We have adjusted our Elliott Wave and our chart view so that you can see the overall behavior. This bear trend we have been seeing for the better part of this month appears to be the corrective wave. We are getting support just above the 0.386 Fibonacci level, which is well aligned with Elliott Wave Theory. If we retrace past 0.236 at $47.2K, however, we have invalidated the wave, and this is a bearish sign. However, $50K is providing good support at the moment, and we anticipate this to hold. Watch for resistance at $54.4K and $57.6K
BITSTAMP:BTCUSDLong
by quantguy
Best Stock Trading Ideas!!Stocks took a significant hit yesterday. We stressed that they would find support around the 0.500 Fibonacci level and that was exactly where they found support. Subsequently a rally took us back to the 0.786 Fibonaci level at 3933, also a level we highlighted yesterday. The S&P appears to be forming another pseudo-megaphone pattern, 'pseudo' because we are not seeing higher highs, but we are seeing volatility increase, so the 'spirit' is there. The Kovach OBV is flat but at highs. This could be a sign that we are coiling up for a bull breakout. It also could mean we've peaked and are ready for further retracement. If we are ready for a breakout, watch 3963, otherwise we could retrace back to the 0.500 Fibonacci level at 3860, or even past this, extending the megaphone pattern.
FX:SPX500Long
by quantguy
1
Bearishness Beating Battered LitecoinThis head and shoulders breakdown has proven to be very difficult for Litecoin to recover from. We attempted a full retracement, but were immediately thwarted by the neckline at $195. We sliced through $184 easily and are currently finding support at $174. We have a bit of a divergence between the Kovach OBV and LTC's price. The Kovach OBV seems to be bullish, which could suggest it may be mounting for a breakout. Any momentum would be met with swift resistance from $184, and $195 however. We'd see continued support at $169 if another wave of selling came through.
BITSTAMP:LTCUSD
by quantguy
2
Ethereum's Meager Recovery AttemptEthereum got smashed down to support at $1547. This was a level we identified for you, and stressed that if $1654 didnt hold, then this was the next target. Unfortunately, we were right, however ETH seems to be finding nice support at this level. In fact, we attempted a meager bounce here but faced resistance from $1654, which is now providing resistance. We will see further resistance from $1694. We have a way to go before regaining the range we once held between $1750 and $1906.
BITSTAMP:ETHUSD
by quantguy
No Love Lately for Lagging BitcoinBitcoin is finding support at $52.1K, a Fibonacci level, but has not seen the momentum that we were hoping for. The next major level is $52.8K, and it looks like we are facing some significant resistance here. The next level after that is $54.3K. it will take some momentum to punch through these. The Kovach momentum has turned south suggesting that we will range or may see another blast of bear momentum. If so, watch for $50K to provide support as this is a significant psychological level. Also, just below that, we have $49.8K, which is a Fibonacci level.
BITSTAMP:BTCUSD
by quantguy
Stocks Continue to RangeStocks retraced back to the support 0.618 Fibonacci support level at 3890. They are continuing the rather narrow range between this level and 3963. The Kovach OBV was strong but has flattened. It really could go either way at this point. Another retracement could take us to the 0.500 Fibonacci level at 3860. A rally would have to break 3933, before we could consider highs at 3987 again. The longer we range, the more probable a breakout is. We should see some conviction either today or tomorrow.
FX:SPX500
by quantguy
1
Litecoin Attempting a Bull RunLitecoin got some support off $184, a level we've been calling out for weeks now. It has attempted a bit of a bull bounce here, but is facing swift resistance from the neckline of our head and shoulders pattern. It will take a serious push to break through this. However the Kovach OBV has picked up which is a good sign. Still it is going to take a bit to break $195, and we're not convinced now is the time. If it is, then $202 and $209 are the next targets. Otherwise we will likely range between $184 and $195.
BITSTAMP:LTCUSD
by quantguy
1
S&P Ranging, Looking to BreakoutStocks retraced and are correcting sideways. We had a fairly risk-off/neutral day yesterday. The level 3890, or the 0.618 Fibonacci level is definitely providing some support right now and seems to be a lower bound for now. The Kovach OBV is trending up but has flatlined slightly. It could go either way from here. Further retracement could easily take us to the 50% Fibonacci level if 3890 does not hold. A breakout could take us to relative highs at 3987. We are maintaining a pretty narrow range at this point suggesting that stocks are ready for a breakout either way.
FX:SPX500
by quantguy
Litecoin Head and Shoulders BreakdownIt looks like we spoke too soon about the head and shoulders rejection in Litecoin. At the time, it appeared to be breaching the neckline, however this was short-lived. After a rejection from the neckline we saw support at $184, a level we have been identifying for days. We should see some support here but if not, $174 is the next level down. Ideally we would see a bounce with some nice conviction, however we may be seeing a bear flag forming. The neckline of our H&S pattern should provide formidable resistance at $195.
BITSTAMP:LTCUSD
by quantguy
2
Ethereum Finally Breaks DownJust as we were doubting the validity of the head and shoulders pattern in Ethereum, it broke down. However, our support levels held and we have been discussing them for days so you should have been well prepared. Recall that we said we would find support at $1694 and $1653, the latter being a very strong technical level and the neckline of the previous inverse head and shoulders pattern. There is a vacuum zone below however to $1550 or so. Currently we are caught between the two levels mentioned above and could be forming a bear flag pattern so be careful. From above, $1748 will provide resistance but if we can breach this we should be able to solidly reclaim the range between this level and $1872.
BITSTAMP:ETHUSD
by quantguy
1