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Litecoin Testing The RangeWe called the Litecoin breakout perfectly! And did it ever breakout! We went from the $180's to around $226, which was in perfect alignment with our Fibonacci Extension level and a target price. After that, we fell all the way back down to the $180's. However it was swiftly bought back up to the $200 handle where it is currently hovering after finding support. We can expect LTC to attempt to find footing in this rather large range between $180 and $226. Current levels may present good buying opportunities, but we may retrace back below $200, which would be even better. Watch for a consolidation pattern to start forming which would precede another breakout.
BITSTAMP:LTCUSDLong
by quantguy
$2K ETH is Coming!!!Ethereum had a retracement from highs, which brought us down to a support level at $1650, which is a psychological level and Fibonacci level. This was swiftly bought back up and we are now nearing highs again. We appear to have a rounding top in ETH which means that we may see further retracement. If so, $1650 will certainly find support again. This is a healthy retracement overall, and should be viewed as a buying opportunity. ETH should have no problem hitting $2K by the end of the month.
BITSTAMP:ETHUSDLong
by quantguy
1
Breakout Imminent in Stocks!!!Stocks are consolidating into a triangle corrective wave. This is a perfect consolidation pattern an suggests a breakout is imminent. We are bullish of stocks and anticipating a bullish breakout at open which will take us back to 3928. From there we will likely meet resistance and consolidate further perhaps in a bull wedge before breaking out to higher highs. If we are wrong, we will find support at 3882 or 3871. The Kovach OBV is very strong and the Kovach Chande is neutral which is a perfect storm for a breakout.
FX:SPX500Long
by quantguy
Ethereum Breakout or Reversal??Ethereum looks like it has formed a double top at $1821. Although we may be seeing a bull wedge forming as well. It really depends on what ETH does around $1750, a technical and psychological level. For now, it seems like ETH is content between $1750 and $1821, which is a very narrow range for ETH. If ETH does break down, we could span the vacuum zone all the way down to $1547, though it is likely we will see some support at one of those Fibonacci levels below like $1695, $1653, or $1623.
BITSTAMP:ETHUSDLong
by quantguy
Bitcoin Consolidation Before Another Breakout!!!Bitcoin broke out past the extension level at $48.2K, and hit just shy of our next target at $49.6K. It is likely that it will build another consolidation pattern before breaking out again. Watch for it to fill out the range between $45.6K and $48.2K or $49.6K. It looks like we may be in the midst of forming a bull wedge pattern, which should complete by the end of the weekend. Consolidation is likely since the Kovach OBV has plateaued. Our next target is $52.8K
BITSTAMP:BTCUSDLong
by quantguy
When will Bitcoin Hit $50K??Bitcoin is maintaining the range from $43.6K to $48.2K. It does appear that this range has narrowed slightly and we are facing resistance at current levels around $46K. We will see if the hype from Tesla is enough to keep BTC in this range or if the fervor will subside and we will see a retracement. We anticipate that BTC will continue to range, but if we are wrong $41.9K would make an amazing price to buy back. Our next price target it $49.6K, which we can safely round to $50K. We could easily hit this by the end of the month
BITSTAMP:BTCUSDLong
by quantguy
Ethereum Preparing to Breakout??Ethereum is ranging but flirting with highs. It could be in the process of forming a bull wedge pattern, which is very typical before a breakout. If so we would expect to see it test highs a few more times while consolidating. This is probably a good opportunity to accumulate a position. Our next target for ETH is $1905. From below we will see support at $1653, $1623, and $1593. But it is doubtful we will see $1500's. The Kovach OBV is bearish, which is odd, but suggests a bit of a divergence, so it is unlikely that ETH will break highs any time soon.
BITSTAMP:ETHUSDLong
by quantguy
Stocks Reject All Time Highs!! What's Next??We called out resistance at new highs with stocks for many reasons. The higher highs were increasingly less pronounced, momentum was sluggish and the Kovach Chande was gradually tapering. That and being at or near ATH's would take some momentum to break through. We were spot on with this analysis. The S&P tried to break new all time highs, and did so for a split second before completely and utterly rejecting them, diving to support exactly at the levels we identified. It sliced through 3898 to finally find support at 3882, which would have been a great level to buy back, and some readers did take advantage. Currently we seem to have gained some momentum from the bounce off 3882. The Kovach OBV has turned positive again, and the Chande has swung up. This however suggests that we are back to overbought territory and are due for a rejection of highs at 3928 or 3937. If we are able to break highs again, which will likely happen next week 3963 is the target.
FX:SPX500
by quantguy
Bitcoin Breather Before New HighsBitcoin has entered a sideways trading phase. It has leveled off at all time highs, which coincided perfectly with our Fibonacci Extension targets. After such a great ascent, it is reasonable that Bitcoin come up for air, and that is exactly what appears to be happening at the moment. Bitcoin will usually trade sideways after these mooning phases, but will let up as traders take profits in bitcoin and slosh capital back to altcoins. That is exactly what we seem to be seeing now. In fact, as we are writing this report, BTC seems to be breaking a major level at $45.6K. It will next find support at $45K, then $43.6K. It is not likely to go much further than that but we would still be bullish even if it dipped to $42K. $50K is our next target.
BITSTAMP:BTCUSDLong
by quantguy
Retracement In Stocks??Stocks have formed an extremely narrow range at highs. This is an extremely common behavior after an asset has made strides especially to the extent that the S&P has. However it does appear to be running out of steam. The Kovach OBV is still very strong, but has plateaued a bit, suggesting that momentum is waning. Additionally, although we have been seeing higher highs and lower lows, the hallmark of a bull trend, the extent has decreased with every attempt, forming an overall arc pattern. The signs are pointing to a correction in stocks or at least a sideways correction for a bit. If we do have a correction look to 3909, 3898, or even 3882 for support. These are a mixture of technical and Fibonacci levels. We are completely aware of bubble forming thanks to free Federal Reserve magic papers. So if stocks do breakout they will contend with 3937 first.
FX:SPX500
by quantguy
Litecoin Buying Opportunities!!After breaking relative highs at $186, Litecoin came very close to hitting our next target at $199, before a selling wave took us back to support at $174. There appears to be a wick here suggesting that this level will hold, but if not, we can look to $166 for support, then $158. The Kovach OBV is still strong, so we do not expect any significant bear trend here. The Kovach Chande has dipped and the divergence suggests a distinct buying opportunity. A green triangle on the Kovach Reversals Indicator would be the icing on the cake. Again, $199 is our next target for LTC.
BITSTAMP:LTCUSDLong
by quantguy
Ethereum Retraces!! When to Buy Back??Ethereum has retraced significantly from highs. Even though this is a significant retracement, we are still very bullish of ETH. We have retraced to $1695 from $1825, just above the psychological $1800 level. We have multiple levels of support below from Fibonacci retracement levels, including $1653, $1623, and $1593. We doubt the latter levels will be hit but should be considered extremely enticing buying opportunities. Our next target is $1905.
BITSTAMP:ETHUSDLong
by quantguy
Litecoin Near All Time Highs!!Litecoin is very close to all time highs, breaking the doldrums that kept it between $124 and $166. Currently we are facing resistance at $174. The Kovach OBV is pretty strong, especially after the surge in cryptos that spilled over from the Bitcoin news. However it looks like the pendulum has swung full force to the bull side and it is likely that we will see a retracement. In fact, it already seems that we have rejected $166, and the Kovach Chande has registered this with a dip. Make no mistakes, we are still super long LTC, just trying to use our technical analysis the best we can to accumulate at the best prices.
BITSTAMP:LTCUSDLong
by quantguy
5
Bitcoin All Time Highs!! Another Fortune 500 Company to Invest??After the stunning release by Tesla of their intent to buy $1.5B worth of Bitcoin, BTC surged well past highs to solidify new all time highs close to $50K! That's right. We are but a few thousand dollars from $50K! It is difficult to believe that just a few days ago, we were hovering, lackluster in the doldrums around $30K, with hopes of a dip to $28K to accumulate more. Now there are rumors that Apple will invest $5B in Bitcoin. Our first price targets are from Fibonacci extensions. We have predicted the price nearly to the dollar with them so they are quite reliable. Our most recent target $48.2K was met exactly during this most recent surge. The next level is $49.6K. Watch for the price to stabilize between $45.6K and $48.2K.
BITSTAMP:BTCUSDLong
by quantguy
1
Stocks At Highs!! Retracement??Stocks have continued their ascent but are slowing down. Indeed, we are seeing higher highs, but at a decreasing extent. This suggests that a healthy retracement is coming. We are still 100% in bull mode, and would still solidly be so even with a retracement to 3824. A 50% retracement of the Fibonacci levels shown is much more likely, which could bring us to 3871. Of course, this assumes a healthy market not the bloated, fed fueled bubble of a stock market we have now. It is also perfectly reasonable under these conditions to break out again to new highs. If so, 3937 if a good target. Either way, it would be extreme FOMO to enter a long trade at this point, unless you expect an imminent breakout for some reason.
FX:SPX500Long
by quantguy
Tesla Buys Bitcoin, ETH Gets a Lift!!Ethereum caught some momentum, after a retracement to a support level at $1547. It appears to be catching some further momentum from the huge spike in BTC that we are witnessing literally as I write this. ETH will face resistance again at highs. The Kovach OBV has slumped with ETH's retracement but it looks like it is starting to pick up again. We are receiving breaking news that Tesla has bought $1.5B worth of Bitcoin so the entire crypto market should get a lift off this
BITSTAMP:ETHUSDLong
by quantguy
3
Bitcoin Retraces, Still Bullish!!Bitcoin retraced significantly from relative highs at $40.8K or so. This appears to be the corrective phase of a smaller 5-3 Elliott Wave pattern, nested within a larger construct. We still view this as an overall sideways corrective phase as BTC gears up for another breakout. Meme stocks seem to be out of favor these days, so the addiction to volatility will likely push traders back to crypto. Expect more bull momentum, but beware of the inevitable pull back as traders take profits or Bitcoin does Bitcoin things. We will have support at $37.7K and $36.7K. There are several levels between current prices and $30K that will provide support if BTC breaks further. We are still in long term bull mode as long as we can maintain $30K+
BITSTAMP:BTCUSDLong
by quantguy
1
Stocks to Retrace from ATH'sStocks are facing some resistance at 3909, after breaking new highs once again. Our Fibonacci extensions predicted a price target of 3928, which the S&P will hit once it is able to break through 3909. It is likely that it will retrace from here first. The Kovach OBV was strong but has plateaued, and the chande (purple line) has dipped notably. We are still bullish of stocks but must note that the pendulum has swung to the bull side, and it's natural for it to swing back before another push for all time highs. The levels 3867 and 3848 will give us support. Currently we are finding some support at the psychological level of 3900.
FX:SPX500Long
by quantguy