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Ghostsquawk

Where to Buy Ethereum??Ethereum seems to be retracing quite a bit from all time highs. It is currently flirting with support from a trend line. On a broader scale, we could be forming the first leg of the next 5-3 Elliott Wave. It is also the case that we could be forming a sideways corrective phase. Time will tell, and how ETH behaves moving forward will be very telling. Watch for it to break highs or retrace further. It does look a bit weak, and the Kovach OBV has turned sharply. So anticipate testing lower levels or at least ranging. The levels $1211, $1105, and $1030 will be good entry opportunities.
BITSTAMP:ETHUSDLong
by quantguy
The Next Bitcoin Breakout??Bitcoin has been trending down. It received a significant shakeout which took us to the exact level I called out in the last report: $34.7K. It is highly doubtful the bubble is about to burst yet. Recognize that in the long run this behavior is simply a ranging after a tremendous appreciation. As long as we remain north of $30K, BTC will still be considered bullish. Even if we break down from $30K, consider it a buying opportunity, but perhaps for the longer term. The Kovach OBV is still drifting up which seems to be a divergence from the price action right now, so this is a bullish sign.
BITSTAMP:BTCUSDLong
by quantguy
2
S&P Bull Wedge Forming?Stocks bounced pretty hard off lower levels, but are still having issues making new highs. The level 3758 provided support as we said it would. We blasted through the next level 3792, which provided little resistance. It will provide support now. We should expect more resistance at all time highs. It will take a lot of momentum to break through and establish new highs. However we do appear to be in the midst of forming a bull wedge pattern, so chances are stocks are bottling up for a breakout. Consider dips as buying opportunities to accumulate a position before the breakout. The next target is 3856.
FX:SPX500Long
by quantguy
Litecoin BreakoutLitecoin has broken out from its ranging, but not to the extent of Ethereum. It still has quite a way to go before new highs, or before it even matches relative highs. Currently, it is facing resistance from a Fibonacci level at 167. We are likely to have some troubles with this level and may retrace back down to find support at the next level at 151. After that, if LTC returns to bull mode, it should be able to secure relative highs again, just keep in mind that this coin does not move with the volatility of the others
BITSTAMP:LTCUSDLong
by quantguy
Ethereum New Highs!!Ethereum has broken out higher after ranging for several days. It has finally achieved all time highs, barely breaking its 2017 high of 1424. At this point it looks like it's going to keep ripping and our next target is a nested Fibonacci level at 1577. This appears to be the beginning of the next impulse wave in another 5-3 Elliott Wave. We are soon to have some resistance, but fear not, this is just the second wave in the impulse. It would be unwise to fomo into a trade at this point. Wait for a retracement
BITSTAMP:ETHUSDLong
by quantguy
Bitcon Ready to Break Out??Bitcoin has been ranging but is forming a bull wedge pattern. The upper bound of the bull wedge pattern is $37.7K. Ideally, we would have a solid uptrend to give us confidence in a breakout but the Kovach OBV is very strong here suggesting a bottling up of momentum ready to break out. There is a vacuum zone to highs, with a brief stop at $40K which is now a psychological and technical level. If we are wrong, and it breaks down, watch for support at $33K.
BITSTAMP:BTCUSDLong
by quantguy
1
S&P Ranging Before InaugurationThe S&P 500 has rejected highs. We have been calling this out for weeks. We appear to have a double top as well at 3825. It did find support at 3758, which is a technical and Fibonacci level, and now is finding support from 3793. The Kovach OBV does seem to be edging up, but nothing to suggest a breakout today. It could go either way at this point: to retest highs or lower levels 3758 or 3737. But don't anticipate too much action in stocks until after the inauguration tomorrow.
FX:SPX500
by quantguy
Dip to Buy in Litecoin?Litecoin is ranging after a gigantic selloff on the 11th. It has not retraced this selloff as well as some of the other cryptos. In fact, it is looking quite weak. Although it is ranging, establishing footing in the mid $100's, it odes appear to be forming a head and shoulders pattern. This is pretty ominous. Additionally, the Kovach OBV has registered an extreme amount of selling pressure that has since subsided, at least. If it does break down, $130 and $117 will provide support and good levels to buy back.
BITSTAMP:LTCUSD
by quantguy
Ethereum Ranging. When to Buy?Ethereum is trending up in what appears to be a bull channel. These tend to break down so we may get lower prices soon. Overall, the crypto market is ranging and ETH is no different. It is healthy for the market to range after it has continuously established highs. The Kovach OBV has definitely leveled off and appears to be turning over. If you have any positions in ETH now might be a time to take profits, or wait for that dip to buy more. The levels $1105, and $1030 will be nice.
BITSTAMP:ETHUSD
by quantguy
When will Litecoin Make New Highs??Litecoin is facing some resistance at $151, one of our Fibonacci levels. This is the 50% Fibonacci level based on the retracement from highs. This is a fairly significant Fibonacci level, so if Litecoin cannot muster more strength here, we can anticipate a further retrace. The levels $141, $130, and $117 will all provide support. It looks like we are forming a head and shoulders pattern on 5 minute candles too. The Kovach OBV has flatlined which does not bode well in the near term. Longer term, LTC should make new highs within two weeks.
BITSTAMP:LTCUSDLong
by quantguy
1
Bitcoin Ready for Another Dip??Bitcoin had another rally, but it looks like it is running out of steam. It started rounding off right around the technical and psychological $40K level. We could see lower prices soon, and a great chance to get in on a long trade. If we dip further, $36.3 is the nearest technical level. Next we will have support at $34.7K, then $33.4K, but of which are Fibonacci levels. The Kovach OBV is really strong however, so if we do see a dip, it will be momentary.
BITSTAMP:BTCUSDLong
by quantguy
1
S&P Breakout or S&P Retrace??Stocks dipped, but nowhere near to the extent we were anticipating. A 'healthy' correction would put us at 3758 or 3737. All we got was 3792. We still anticipate stocks to break out to achieve new highs sometime soon, perhaps even today. Though we are below 3792 at this point and this will provide resistance. The Kovach OBV is inching up, suggesting that we should prepare for a breakout. However the S&P may have one final squeeze left in store for us, so it would be wise to be patient and wait for a better dip.
FX:SPX500Long
by quantguy
Litecoin Breakout??Litecoin is coming off of the corrective wave. It is not showing the momentum that ETH or BTC have exhibited, but litecoin rarely does. This is a nice bounce, but it is not showing the emphatic momentum of a breakout that we usually anticipate from cryptos. This is not a bad thing, because we need healthier growth to avert a bubble. Litecoin may dip again, but it should find support at $141, $130, or at worst, $117. All should be considered buying opportunities. It is much more likely that we will range at current levels, and eventually breakout again hitting $167 and $186 again. Our next targets for Litecoin are $194 and $207.
BITSTAMP:LTCUSDLong
by quantguy
2
Ethereum New Highs??Ethereum has broken out from our corrective wave. It seems like $954 was the low, as we called out in the briefings. We just smashed $1105, and we seem to be having some trouble with $1150, which appears to be a technical level formed by highs and lows. Momentum has picked up, but it has not registered on the Kovach OBV. This suggests we may see another dip soon, but fear not, the bubble has not burst yet. We should see $1211 again and then highs at $1347. Our next target is $1500.
BITSTAMP:ETHUSDLong
by quantguy
Litecoin Dragon Head BreakoutLitecoin looks like it is consolidating further after the retracement it suffered with the rest of the crypto market. It looked like an inverse head and shoulders was forming, but this now looks to be a flag. Either way, it appears to be the fourth and final stage of the dragon head pattern, and we should see a breakout after this. The fourth stage is characterized by ranging which may last another day or so. Watch for support below at $117. After we break out, $141, $151, $167 and $186 are all profit targets.
BITSTAMP:LTCUSDLong
by quantguy
Ethereum breakout??Ethereum has had some wild swings that could even rival that of Bitcoin. It dropped from highs at $1347 to below $1k, and has finally stabilized between $1030 and $1105. These are two Fibonacci levels that have proved to be very good levels of support and resistance depending on where ETH is at the moment. Like Bitcoin, we anticipate some ranging before the next impulse of the 5-3 Elliott Wave begins. If it dips further, watch $954 and $862. Profit targets include $1211 and $1347.
BITSTAMP:ETHUSDLong
by quantguy
2
Stocks Pausing Before New HighsStocks are ranging at highs, caught between all time highs, a technical level at 3825, and the nearest Fibonacci level, 3784. We are seeing some consolidation here as stocks find footing. Our target still remains 3856. Beware of some retracement first, even a 50% retracement would still be considered bullish. That would put us at 3726. There are several levels of support before that. The Kovach OBV is a bit flaccid, indicating that there may not be as much momentum to this rally as we'd like.
FX:SPX500Long
by quantguy
1
Behemoth Bitcoin Bounces Back!!Bitcoin suffered a huge retracement from highs, bringing us down to the high $29K's from the $40K handle. This was quite a drop and it squeezed out a lot of weak hands, some of which had never experienced such a squeeze in crypto. This is normal for all cryptocurrencies especially Bitcoin and this is the type of thing you should always be prepared for. Consider dips like these a buying opportunity. It would be nice if Bitcoin would range a bit at lower levels, giving us time to accumulate a position, but we aren't the only ones thinking this and the price was immediately bought back up to $35K, where it sits now. It could go either way at this point. If the corrective phase of our Elliott Wave is done, we could be seeing the beginning of another 5-3 Elliott Wave and therefore another run for highs. If we are wrong, and the corrective impulse is not done yet, it could take us further to $28.5K or even $24.4K.
BITSTAMP:BTCUSDLong
by quantguy
2