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Ghostsquawk

Ethereum Looking Flaccid...Ethereum caught a lift and is tracking Bitcoin's breakout, however it does not seem to have quite the steam that bitcoin does. We are currently in the middle of a vacuum zone but appear to be facing some difficulties with the $1600 handle. The Kovach OBV is pretty flat, so ETH may range here. We will have support from $1547 and $1424 if we see retracement. We are not as bullish of ETH as we used to be since high GAS fees are turning off a lot of people lately.
BITSTAMP:ETHUSD
by quantguy
4
Stocks Gearing Up for a Breakout??Stocks appear to be coiling up for a breakout. We had some wild fluctuations the past few trading days, but we are currently seeing a consolidation just under the upper bound of our pseudo-megaphone pattern. Recall that this is not technically a megaphone pattern which requires higher highs and lower lows. However it does obey the spirit of the pattern which is an increase in volatility. We are currently hugging the trend line at the moment, and may form a bull pennant before another breakout. It is also possible to see one more test of lows, so watch what the momentum is doing at open. This will give you a hint. If we reject those highs, 3867 will provide support and then 3848. If we break this level it is likely to test the lower trend line of the pattern again. The levels 3927, 3938, and 3962 are targets to the upside.
FX:SPX500Long
by quantguy
3
Bitcoin Recovery??Bitcoin has followed our ABCD breakout nicely, and looks like it is coming up for air. We have a nice dragon head pattern forming on the 30 min charts, which may suggest a breakout soon. If not there is a vacuum zone below to $45.6K. Even if it does retrace through here, that should just be a minor correction to the overall bull trend. It appears the bear selloff has let up, and we are in recovery mode. We do have some pesky levels from above to conquer before making a run for all time highs. The levels $49.7K, $50K, and $52.8K will all provide resistance and may be considered profit targets for some short term trades if youbought this dip
BITSTAMP:BTCUSDLong
by quantguy
2
Another Stock Breakout??Stocks have recovered nicely from that huge dip. Trusting our senses paid off yesterday as the S&P hit our target exactly. We are seeing an extension of the megaphone type pattern we discussed a few days ago. For the pedantic, technically, this is not a megaphone pattern, since we'd need higher highs in addition to lower lows. However it does obey the spirit of the megaphone pattern in the sense that we are seeing an increase in volatility. There appears to be a bias forming to the upside which suggest we could see a breakout soon. The Kovach OBV has picked up, suggesting it may be loading up for that breakout. Relative highs at 3937 would be a great target. Expect resistance there as this is a significant level
FX:SPX500Long
by quantguy
2
Litecoin Found Support??Litecoin found support in the low $150 handle, finally getting a lift from the selloff. It appears to be one of the weaker cryptos, only recovering 10% or so from lows. We anticipate another buying wave to eventually set in. But the Kovach OBV has barely moved despite some nice momentum in Bitcoin, so we are cautious. If we have not hit the max pain threshold, $147 will provide support then $141. To the upside, $174 looks like it is a strong contender for a resistance level. after that we will face further pressure from $184 but after that we have a vacuum zone up to $202.
BITSTAMP:LTCUSDLong
by quantguy
7
ETH Recovery??Ethereum has caught a lift off lows. The crypto selloff was especially bad for ETH. It tumbled from ATH's at $2K or so all the way to the $1300 handle. In fact it actually saw the high $1200's for a bit before the carnage was done. We are increasingly more skeptical of ETH as high gas prices and other competing chains, e.g. BSC, provide a better alternative with richer ecosystems and lower gas prices. However, ETH is still set to recover. Currently, it is back to $1547 where it is likely to face resistance. It will eventually break out of this even if it does find some resistance. After that the next target is across a vacuum zone to $1653
BITSTAMP:ETHUSDLong
by quantguy
4
Bullish ABCD in Bitcoin!!Bitcoin caught a nice pump last evening after dumping over the weekend. HODLers felt the pain Saturday and most of Sunday but got some relief Sunday night. Although we are still very bullish of Bitcoin generally, we were prepared for the max pain threshold to be $36K. However, we have some reasons to be bullish, including a bullish ABCD pattern. Recall that the profit target for this pattern is A, or in this case, all time highs around $58K. If we are wrong, we will still have support from $41.9K and $40K. However the Kovach OBV has turned up suggesting there could be some meat to this rally.
BITSTAMP:BTCUSDLong
by quantguy
7
Stocks to Recover??The S&P had an extremely choppy day on Friday. Prices oscillated wildly between 3791, and just below our level at 3867. Currently we are testing the upper bound of that range. The volatility and failure to break through to lower levels coupled with the testing of the upper bound suggests we may see a breakout to the upside today. Watch for 3867, 3887, and 3910 to provide resistance and these should be thought of as profit targets. Eventually we will close the breakout rejection from our inverse head and shoulders pattern from last week but that likely wont happen today unless we get an extreme amount of buying volume.
FX:SPX500Long
by quantguy
5
Bitcoin Selloff!! What to do?? 😲Bitcoin does not like this dollar strength at all. It has retraced to about $45K, which is a very strong level of support. We actually briefly tested the $44K's but thankfully that got bought up very quickly. If we are unable to hold current levels, then $42K will provide a nice target to buy back. There is a $3K vacuum zone down to this level. Luckily after that we have support from several levels until we hit $40K, but the next level after that is $37.7K. Note that we are still in 'bull mode', even with this selloff and will be so even if we retrace to $36K
BITSTAMP:BTCUSDLong
by quantguy
1
Carnage in Stocks!! 😱Our inverse head and shoulders breakout was very short lived for stocks. The S&P has retraced this entire move and then some. It even broke past the head of our inverse H&S. Currently it is finding support at 3809, but it looks to be getting really comfortable with these lower levels. The Kovach OBV is very bearish, and the oscillatory behavior registers major momentum in both directions over the past few days. For our next level of support we need to appeal to the 3700 handle. We have 3792, and then 3757. If we manage to catch some momentum, we have 3867 which would be nearly a 50% retracement.
FX:SPX500Short
by quantguy
1
Best Litecoin Trading Ideas!!We are seeing an emphatic bull wedge breakout in Litecoin. This is well received by Litecoin holders, who were eagerly awaiting some traction. As we are writing this, we are watching Litecoin cross the vacuum zone and test one of our levels, $202. This is psychologically and technically significant as we have regained the $200 handle. Watch how LTC behaves around here. It could retrace to find support back at the upper bound of our wedge pattern at $184. If this support does not hold we could find ourselves back at $158, where the recent dip found support. Otherwise $210 is our next target.
BITSTAMP:LTCUSDLong
by quantguy
2
ETH About to Breakout??We have a bull wedge forming in Ethereum. If intermarket correlations with other cryptos, especially bitcoin are to be trusted we will likely have a breakout soon. We will see resistance from $1700 first, then $1745, and then we will hit the $1800 handle. We have a while to go and we have several technical levels to break before new highs again. Be patient, because cryptos tend to range for a bit in a sideways extension before making new highs again. If we are wrong and ETH dumps again, we will have support again at $1345, and worst case at $1234, which should be considered a bargain.
BITSTAMP:ETHUSDLong
by quantguy
4
Bitcoin Recovery??Bitcoin has just broken out from a bull wedge pattern. It could have gone either way, since the trend was actually bearish before the consolidation pattern. We are above $50.8K, which is a support level. This is a good sign, but if it is a fake out, and we retrace further, another smack down could bring us all the way back to $45K or even $42K. The next level of resistance will be $53K, and we have one more level to go before highs. Don't get too excited for new highs just yet. Bitcoin typically feels out a large range for a while after a retracement before making a run for highs again so be patient and add on dips.
BITSTAMP:BTCUSDLong
by quantguy
3
Best Stock Trading Ideas!!Stocks have broken out from the inverse head and shoulders pattern we called out yesterday. They first met resistance at 3937, then retraced to 3909. Both of these levels were explicitly called out in our reports. If 3909 fails to provide support, we will see support again from 3887, which is the neckline from which we broke out yesterday. If the current price action is just a retracement, we can expect to make a run back to 3937, and then break out further to cross the vacuum zone to 3963.
FX:SPX500Long
by quantguy
2
Comeback for Stocks??Stocks caught some support off 3810. It seems Powell was able to assuage their fears at least somewhat. Currently, we appear to be forming a small bull flag after that rejection from lows. We could be gearing up for another breakout. Stocks have quite a bit of territory they need to recover and they are oversold at this point. The Kovach OBV is picking slightly, still not in comparison to the selloff, but it could indicate we are gearing up for a breakout. Finally, we appear to have a head and shoulders with a sloped neckline meeting a level at 3886. It is from this level that we will break out if we get momentum. A breakout could take us to the 3900 handle easily, namely 3909, 3927, or 3937.
FX:SPX500Long
by quantguy
1
Litecoin's Weak Revovery 😴Litecoin has recovered a bit in addition to the other cryptos but it still has a way to go. It looks weak with respect to ETH and BTC. We have rejected $160, a technical and psychological level. Currently, we are peaking above a vacuum zone between $184 and $200. The Kovach OBV is flat, so there is a chance we will reject $184 and perhaps get support from $174. Otherwise, anticipate LTC to feel out that range in a sideways correction before another breakout.
BITSTAMP:LTCUSDLong
by quantguy
4
Ethereum Comeback!!Ethereum got hammered during the selloff and lost over 25% of its value. But it has since recovered nicely, about a 50% retracement, back to $1700 exactly at the time of this writing. We could see more fallout however, if our correction is not complete. If that is the case, we could go back to the $1300's. It is more likely that ETH will range a bit and feel out the range between $1820 and $1547 for a bit longer before testing highs again. This is a common sideways corrective pattern for cryptos after they have had a huge bull run. Use this time to accumulate on dips.
BITSTAMP:ETHUSDLong
by quantguy
1
Bitcoin Retraces Losses!! What's Next??Bitcoin finally regained some footing after a bearish day yesterday. We spent most of the day in the high $40K handle, after rejecting $45K's. Currently we have reclaimed the $50K's, but are not out of the woods yet. This could be a minor retracement into an overall corrective wave, ie wave B in our corrective ABC wave. If that is the case, we could easily test the low $40K handle again, before another impulse wave. We are still confident BTC is still well undervalued, but technical retracements do happen. If we are in fact not in such a corrective cycle then BTC is likely to range around current levels, feeling out the $50K's before another breakout.
BITSTAMP:BTCUSDLong
by quantguy
3