Get started

Ghostsquawk

Next Price Targets for Ethereum!!Ethereum is consolidating into what appears to be a triangle corrective wave. In Elliott Wave theory, these typically retrace to the 786 Fibonacci level, which is exactly about where we are at if we consider the impulse wave being that of the most recent move from $1300. We can expect ETH to consolidate here, continuing the patter. Then it will likely break out to $1750. If we are wrong, $1550 will provide support. The Kovach OBV is still strong but definitely registering the retracement as a plateau
BITSTAMP:ETHUSDLong
by quantguy
1
Bitcoin Consolidates!! Buying Opportunities!!Bitcoin hit a relative high at $39K. After that it retraced and may be exhibiting a corrective phase from a nested Elliott Wave impulse beginning at $32K. If that is the case we can expect a retracement to $36.2K or $35.4K, before another burst of momentum. Bitcoin appears to be consolidating between technical and Fibonacci levels between $36.7K and $37.7K. If that is the case, we would not expect a retracement, but a sideways correction leading to an eventual breakout. Either way, we are bullish of Bitcoin and will be loading up at the levels mentioned. A healthy breakout will place us back to $40K
BITSTAMP:BTCUSDLong
by quantguy
1
Stocks Make New Highs!! Next Targets??Stocks broke through to new highs yesterday. The Kovach OBV suggests there was a lot of momentum here, and there had to be. The S&P formed a double top back in January validating the importance of 3867. It broke through and is currently having trouble with 3887. This is a level we called out last month, which was a Fibonacci Extension. The S&P is pretty extended right now, so we can expect a retracement, perhaps off 3887 to highs at 3867 or perhaps 3848. No one can deny the momentum in stocks, the Kovach OBV is quite strong. So eventually we will break through 3887 and hit 3928, then 3937. These are two somewhat proximal levels garnered from Fibonacci extensions. Note the vacuum zone between current levels and these targets. If the S&P is able to break new highs, it should sail through to those targets soon after.
FX:SPX500Long
by quantguy
2
Litecoin Breakout Near??Litecoin has dipped, more so than the rest of the cryptos. It has support at $145, which is a Fibonacci level we have long called out. If it breaks down further, $138, $132, and then $124 will provide support. It could dip as low as $111 and still be considered bullish. The Kovach OBV is gradually creeping up which may suggest that LTC may be gearing up for a breakout soon. If so, it has to blast through $154, and $166, before it can consider testing highs at $186.
BITSTAMP:LTCUSDLong
by quantguy
2
Next Targets For Ethereum!!Do we ever tire of winning? No we do not. We have called out the breakouts and targets in Ethereum and made lots of profit in doing so. We even called out the level at which ETH would have some resistance, by using Fibonacci extension levels anchored at the most recent relative highs and lows of the bull wedge pattern. Ethereum does look like it is coming up for air which is perfectly reasonable after such a move. It is going to find support at $1550, which was our price target for the breakout. Worst case it should have support at $1424, which is the upper bound of the bull wedge pattern from which it broke out. If we are able to breakout again, $1750 is the next target which is another Fibonacci Extension as well as a nice psychological level.
BITSTAMP:ETHUSDLong
by quantguy
2
Bitcoin Breakout TimelineBitcoin has rallied substantially, crossing through a few Fibonacci levels from this last report. It looks like we were really making a run for $39K, but retraced to find support between $36.7K and $37.7K. The Kovach OBV is picking up, but we are not seeing the drastic spike we usually see when BTC moons. We will most likely face some resistance here, and range for a bit. We've been pretty clear that Bitcoin is broadly in a ranging phase, a sideways corrective wave. It is not likely to break out any time soon. Watch it form a bullish consolidation pattern, testing highs a few times, before breaking out again. We can expect new highs next week or the week after, assuming we still have momentum. If not, lower levels at $35.2K, $33.6K, and $31.6K will provide support. We are still solidly bullish (long term) even if we hit $28.5K.
BITSTAMP:BTCUSDLong
by quantguy
1
S&P 500 Imminent Breakout!!Stocks are clinging to support at 3825. They have held a very narrow range between this and 3848 or so. It could really go either way from here. A narrow range always precedes a breakout, so whatever the S&P does, it is going to do with force. We are very close to all time highs, and these will not be easily broken. It will take some momentum to pierce through. If so, Fibonacci extensions suggest 3887 is our closest target. After that, we seem to have a bit of a vacuum zone before two Fibonacci extension levels at 3927 and 3937, just 10 points apart. From below, watch 3810, 3792, then 3758.
FX:SPX500Long
by quantguy
1
Litecoin Shows Signs of LifeLitecoin made a meager breakout too, along with BTC and ETH. Unlike ETH, LTC still has a ways to go before new highs. Currently, we are facing resisntace at $154, which is a Fibonacci level. $166 will provide resistance if we can break through. It is much more likely that we will retrace a bit or range first, since LTC is already a bit extended. It is holding a pretty broad range between $124 and $154. But if it extended the range to $111 and $166 that would not be unreasonable. We still have a way to go before all time highs, so use this time to accumulate a position for the long run. In the short term, avoid FOMO.
BITSTAMP:LTCUSDLong
by quantguy
ETH TARGET HIT!! What's Next??Do we ever get tired of winning? No we do not. We called out the next price target in Ethereum exactly. We warned you Ethereum was ready to breakout, and said explicitly "When it breaks out, 1550 is the next target." Hopefully some of you took advantage of this. You had plenty of time to accumulate as Ethereum ranged. We had a classic bull wedge pattern forming, and the Kovach OBV was strong. Currently we are hovering at right about $1550, our target level. We will have support from $1424, which is the upper bound of our ascending wedge pattern. Watch for ETH to come up for air and perhaps hold current levels or even retrace. Our next major targets are in the $1700's.
BITSTAMP:ETHUSDLong
by quantguy
Bitcoin Ranges. When to Buy Back??Bitcoin has another meager breakout. This is great for bored HODLers who are waiting for the next breakout. However there does not seem to be as much momentum to this breakout as we'd like. Bitcoin has been holding a very large range between $30K and $40K. So even a 10% rally is not exciting. This will be more significant as we near all time highs, or even break $40K again. The Kovach OBV is very flat, suggesting that the momentum we saw from the end of last year has dissipated for now. Anticipate Bitcoin to maintain the $30K - $40K range. Any encroachment upon these boundaries should be taken as a mean reversion trade. Don't get scared if BTC tests $30K again, this will be a great buying opportunity. Other nice levels to buy include $31.6K, $33.6K, and $35.2K.
BITSTAMP:BTCUSDLong
by quantguy
2
Stocks Volatile, Trade Carefully!!Stocks have maintained a period of extreme volatility. The S&P has zig zagged 200 points or so in the last few days. It has found support off lower levels at 3676, and has effectively returned to highs. It fell just short of all time highs, just under a congestion zone at 3844. It is likely to face resistance here. It is unlikely to see a breakout to new highs any time soon, since the S&P has extended almost 200 points already. This is quite a move even for stocks. We anticipate the volatility to continue, suggesting that we could test lower levels again. It is highly likely that we will test lower levels, then consolidate around highs, then breakout to achieve all time highs again. The levels 3792, 3810, and 3825 will all provide support.
FX:SPX500
by quantguy
Litecoin Mean Reversion TradeLitecoin is continuing to maintain its range between 124 and 145. The Kovach OBV is flat, and has been for over a week. LTC is currently encroaching on the upper bound of the range, 145, which could make a good shorting opportunity. We are not short of Litcoin per se, this would be a very short mean reversion trade. There is a red triangle on the Kovach Reversals Indicator, which supports our mean reversion idea. We will need momentum for LTC to breakout either way. Keep watching 124 and 145 for signs of life.
BITSTAMP:LTCUSD
by quantguy
1
Ethereum Imminent Breakout!!Ethereum has gotten support from the lower bound of a bull wedge pattern. It has bounced off confirming the pattern and continuing the consolidation pattern. We are stuck at highs right now, so the question is whether ETH has enough momentum to break out of this consolidation pattern that it has been holding for weeks or if it will continue to range. There is no doubt it will eventually break out, but the question is when. If it rejects 1424, it will find support at 1320. When it breaks out, 1550 is the next target.
BITSTAMP:ETHUSDLong
by quantguy
Bitcoin Back to Mooning??Bitcoin had a nice uptick back to $35K, which was a nice respite from the malaise we saw around $33K and lower. Unfortunately, there is little to suggest that it will seriously breakout any time soon. In fact, there was very little momentum to that breakout as measured by the Kovach OBV. We can expect for it to return to lower levels, until momentum returns. Watch $33.6K and $31.6K for support. It is doubtful that we will break down below that, but $30K should serve as a technical and psychological level of support, definitely a buying opportunity.
BITSTAMP:BTCUSDLong
by quantguy
Stocks Struggling for SanityStocks have displayed some extreme volatility over the last few days. The S&P has spanned about 200 points from highs to lows down in the 3600 handle. Currently, it has regained the 3800's finding support right around the psychological 3800 level. Even the Kovach OBV is somewhat oscillatory which shows the vicariousness of the momentum coming through this product. Eventually such extreme volatility will peter out, and we will have more well defined behavior soon. There is a double top at highs, which is a bearish sign. Also, we see a bearish crab cypher pattern on the daily chart. These are both ominous signs, so the fed will have to run the money printers on overdrive if they wish to prop up stocks for another bull run.
FX:SPX500
by quantguy
Litecoin RangingLitecoin is ranging in tandem with Bitcoin. It is hugging the lower Fibonacci retracement levels with current support at 132 or so. Longer term support will include 124 and 111. Although this asset is trading sideways currently, it is consolidating suggesting it is building up for a breakout. The Kovach OBV is pretty flat, so unfortunately we don't have much technically to go by here. If we do breakout, 145, 154, and 166 are all targets. We have a ways to go before testing highs again at 186
BITSTAMP:LTCUSDLong
by quantguy
Bitcoin Consolidating. When is the Breakout??Bitcoin caught a lift from a Musk tweet, but has since retraced its entire move just about. It appears to be happily situated between $31K and $35K. The Kovach OBV has flat lined suggesting that this should continue and may present some mean reversion trade opportunities. Keep in mind that the longer BTC consolidates, the more likely a breakout is. We will be seeing tremendous support from $28K, the lower anchor of our Fibonacci levels. we have broken out from the upper trend line and are currently finding support where it once provided resistance. This is a bullish sign.
BITSTAMP:BTCUSDLong
by quantguy
Stocks Face HeadwindsThe S&P has retraced significantly from highs. We are seeing quite a bit of volatility as large price swings of a full ATR or more are quite common with this product right now. These price swings have even registered with the Kovach OBV which is telling us there is a lot of momentum here in these buying and selling waves. The Kovach Chande is at highs. Since this is an oscillator, it is saying that the pendulum has swung to the buy-side and we are due for another retracement. If we are correct, we can expect the S&P to test 3713 or even 3675. From there it should find support. if it is able to breakout to the upside, there is a vacuum zone back to 3792
FX:SPX500Short
by quantguy
Ethereum Breakout Imminent!!!Ethereum is back at highs, exactly as we anticipated in the last report. We told you that it was likely to form a consolidation pattern before another breakout. Sure enough, it appears to be forming a bull wedge. ETH is due for a breakout imminently. All the signs are there. We have consolidation at highs, and the Kovach OBV is quite bullish, suggesting momentum is bottling up. We may have one more retracement before the big breakout but it is doubtful. When we breakout, 1548 will be the next target.
BITSTAMP:ETHUSDLong
by quantguy
Buying the Bitcoin BreakoutBitcoin has finally broken out of what appeared to be a bear wedge pattern. This is why the previous trend is so important in determining the direction of the breakout. It is currently facing resistance at $37.7K, which is a significant level that we have identified beforehand. Watch for a retracement here. Depending on how conservative you are, you can look to Fibonacci levels below to buy back. The levels $36.8K, $35.2K, $33.6K are all perfectly valid candidates. The Kovach OBV has been bearish with BTC but it does appear to finally be picking up
BITSTAMP:BTCUSDLong
by quantguy
1
Cautiously Optimistic of StocksStocks saw some incredible volatility yesterday. No doubt some of this is related to the GameStop saga. The S&P 500 has completely retraced the bear move only to give back thse gains and settle around a cluster of levels beginning at 3737. It is likely to find support here, at least for the moment, which seems to be verified over the past few hours. If it breaks further down it will have support at 3714. the next level is in the 3600 handle at 3694. The Kovach OBV has whipsawed which is extremely rare. Usually this indicator goes with the overall trend. This is telling us that there is an extreme amount of momentum in stocks lately, in both directions: selling and buying. It is difficult to determine the overall direction of stocks, however we still remain cautiously bullish for now.
FX:SPX500Long
by quantguy