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Ghostsquawk

Bitcoin Tests $50K Again!!Bitcoin has just about fully traversed the range back to highs, from lows at support at $46K. It has stalled out just below $50K, teasing us again by playing this range. Until we get a breakout from $50K, we are unconvinced that bull momentum has fully returned to the market. Watch for support at $49.7K and $48.2K. Also recall that there is a cluster of levels to provide further support in the $45K-$46K range. The Kovach OBV has leveled off, suggesting momentum has petered out for now, and we are unlikely to break $50K any time soon.
BITSTAMP:BTCUSD
by quantguy
Inverse Head and Shoulders Litecoin!!Litecoin saw support around $164, as we said it would in yesterday's support. We have recovered a value area at $174, a level we anticipated we were highly likely to test again. Currently we are forming an inverse head and shoulders type pattern with a neckline at $174. If this is able to break out, we could easily hit $179. We have failed to test $184 in the most recent attempt, but this would be the next target if we could muster more strength.
BITSTAMP:LTCUSDLong
by quantguy
2
New Relative Highs for ETH!! 🥳🎉Ethereum has blasted through $3473, which was once a significant upper bound and barrier to higher levels. We are seeing new relative highs in a clear bull breakout. Our head and shoulders pattern from before is now completely invalidated, which is a very bullish sign, bolstering our overall sentiment. We are currently in the middle of the range between $3473 and $3646, our next target. If we do see a retracement, watch for support at $3473, or $3324.
BITSTAMP:ETHUSDLong
by quantguy
1
Litecoin Breaks SupportLitecoin has cracked support at $169, and appears to be forming a bear consolidation pattern around this level. At the time of this writing, we are around $168, our $169 level is now providing resistance. There is a vacuum zone below to $161, which is a Fibonacci level. Crypto is really good at evading expectations, so we may see a short covering rally. The Kovach OBV is about as bearish as it gets, so there is not much in the way of omens to the upside but a burst of momentum could take us back to $174.
BITSTAMP:LTCUSDShort
by quantguy
1
Bitcoin Tests Mid $40K'sBitcoin has weakened further, but found support at our level at $46.2K, to which you were alerted in yesterday's report. There is a cluster of support levels below, in the $45K range, but then a vacuum zone down to $43.8K if weakness persists. We may be forming a bear consolidation type pattern which could suggest we are gearing up for another selloff. But we are due to for a bit of ranging otherwise, and the range from $46.2K to $48.2K seems reasonable for now, unless we catch some momentum, which could bring us back to $49.7K.
BITSTAMP:BTCUSD
by quantguy
Will Stocks Make New Highs After Jackson Hole??Stocks dipped, finding support just above our level at 4462. We are currently testing 4487, which should provide resistance. The Kovach OBV is rounding off with the price action suggesting the overall momentum is petering out. Watch for news events from Jackson Hole to influence the price, and for stocks to remain in the value area between 4462 and 4487 until then. Our next target above is 4504 again, or highs. News from Jackson Hole could easily bring us to new highs again.
FX:SPX500Long
by quantguy
Stocks RangingStocks are broadly ranging in anticipation of more news from Jackson Hole. In an environment where the only really meaningful data point that matters is Central Bank forward guidance, stocks are waiting for a better idea. Watch for stocks to maintain this range until we have more insight or the market starts to price in a decision. It did appear that we got a burst of risk on mid trading session yesterday and we came within a few ticks of 4504. The Kovach OBV is pretty strong nevertheless.
FX:SPX500
by quantguy
Bitcoin Rejects $50K!! 😨Bitcoin has retreated from highs in the lower $50K handle back down to the $49K's. Although it has rejected $50K, it is still showing a clear affinity for higher levels. We are just below the support level at $49.7K. If we break through this we will be testing $50.8K, which was the previous level of resistance from which bitcoin retreated. We have a very strong level at $48.2K, then a vacuum zone below back to the mid $40K's, so keep this in mind if momentum does not come through. The Kovach OBV was strong but has since rounded off suggesting that BTC is giving pause for the moment.
BITSTAMP:BTCUSDLong
by quantguy
Bull Wedge in Ethereum!! 🚀Ethereum is hugging the upper bound of the range at 3324. It is developing a clear affinity for highs. Volatility has consolidated notably, suggesting that we could be ready for a breakout to higher levels. We are seeing a bull wedge pattern forming. The next target is $3473, which is roughly the middle of the $3K handle. This will be a significant step toward achieving highs again. We should see support at $3200, $3148, and $2965 if not. We have three green triangles on the KRI which suggests we are seeing support from below at current levels.
BITSTAMP:ETHUSDLong
by quantguy
2