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Ghostsquawk

Bitcoin Hits $50K!!Bitcoin has broken out finally to $50K! It had been holding the range between $48K to $49K for some time, and was starting to round off. But momentum came through and this was a much needed lift. We finally have mustered the momentum to achieve $50K, which is a significant milestone. We will see if we have the momentum to sustain these higher levels or if it will reject $50K in favor of the $40K's. The Kovach OBV is very strong suggesting that the trend is bullish.
BITSTAMP:BTCUSDLong
by quantguy
Litecoin Momentum 📈🚀Litecoin found support off lower levels at $161. We caught a nice bid here, breaking through $174 and bringing us back up to the former value area, just under $180. We are currently seeing another burst of momentum come through as measured by the Kovach Chande which is shooting up at the moment. The Kovach OBV, which measures longer term momentum is also turning up, which paints a brighter picture for Litecoin. If momentum continues, we should be able to test the next Fibonacci level at $181.
BITSTAMP:LTCUSDLong
by quantguy
Ethereum Back to $3K's!! 🥳🎉Ethereum caught a lift off the lower bound of the range at $2965. This was a level we had spelled out for you weeks prior, and it has held perfectly. Since then we blasted off past the midpoint of the range, to the last Fibonacci level before relative highs at $3324. We are currently finding support at $3200. Be careful because it is starting to look a bit overbought. There are some red triangles on the KRI and both Kovach Momentum Indicators are starting to 'round off' suggesting momentum may turn.
BITSTAMP:ETHUSDLong
by quantguy
1
$50K Bitcoin??Bitcoin caught a bid off lower levels at $43.8K. It has broken through the curve bounding the 'rounding off' behavior. This plus the clear rejection of lower the lower bound of the price range is a bullish sign for Bitcoin. We won't be out of the woods yet until we can solidly break $48.2K. This is the upper bound that Bitcoin has respected since its recovery from the $30K's. We have one more level around $49K before we will make the ultimate test of $50K. The Kovach OBV was strong with the rally but has flat lined suggesting it has petered out for now.
BITSTAMP:BTCUSDLong
by quantguy
Stocks Find SupportStocks are recovering from the dive they took down to 4350. We found support here and seem to be forming a consolidation pattern. We've rejected our level at 4421 as confirmed by a red triangle on the Kovach Reversals Indicator. Currently, we are finding support at lower levels, namely 4380. The Kovach OBV has picked up notably, suggesting we may find further support here. If we see momentum come through for the S&P, expect it to test 4421. If we clear this level we should be able to recover highs early next week.
FX:SPX500Long
by quantguy
Litecoin Finding Support??Litecoin has dipped significantly from highs. We have some rounding off in the price action from above, indicating that we may have peaked out at $188, the relative high. We do appear to be finding support at the 50% retracement, just above $161. If this does not hold, we should have further support at $158, a technical level, then $155, the 0.382 Fibonacci level. The technical and Fibonacci level at $147 seems auspicious and should be thought of as a min lower bound and great buying opportunity. The Kovach OBV has weakened tremendously, but does appear to be tapering.
BITSTAMP:LTCUSD
by quantguy
1
Ethereum Gives Up $3K!! 😲📉Ethereum has dipped to strong support at $2965. Our technical level coincides nicely with the 0.618 Fibonacci level, confirming its importance and the support it provides. However, the fact that ETH dipped below the $3K handle and did not see an immediate buyback suggests that it is now comfortable with the $2K handle. Additionally, we have a 'rounding off' in the price action and could test lower levels. There is a vacuum zone down to $2651 which coincides perfectly with the 0.236 level and we have a few more Fibonacci levels in between. We have a 50% level at $2889, which would be our next target for support if ETH continues to sell off.
BITSTAMP:ETHUSD
by quantguy
1
Weakness in BitcoinBitcoin has dipped to the $43.8K, one of the lower levels in a cluster of support levels in the lower $40K handle. We are clinging to support here, but Bitcoin is looking very weak. The price action seems to be 'rounding off' as illustrated by the curve above. We should find support at $41.9K, or at worst $40K. Our support levels mentioned align nicely with the Fibonacci levels: $43K is the 0.500, and $41.9K is roughly the 0.382 level. The Kovach OBV is gradually tapering down, so unless we see another burst of momentum we can expect more weakness.
BITSTAMP:BTCUSD
by quantguy
Stocks Plunge!! 📉 😱Stocks have tumbled overnight in tandem with Asian stocks who sold off after Alibaba shares in Hong Kong tanked more than 5%. There is strong support at 4350, but that is more than 100 points away from highs. This is a significant dip for the S&P, but we should find support at current levels. This is a 0.618 retracement from the bull run since the beginning of July. We were due for a good dip, and this appears to be an Elliott Wave corrective impulse. We are highly likely to find support at current levels, but if not, the 50% Fibonacci level at 4315 should hold.
FX:SPX500Long
by quantguy
Ethereum Finds Support Below $3K!!Ethereum had a big dip, giving up the $3K handle briefly. We did see support exactly at our level of $2965. It was swiftly bought back to the midpoint of the vacuum zone between this level and $3148. Although we do appear to be getting good support at $2965, this level is the barrier to a vacuum zone that will take us back to $2651, so be careful. The Kovach OBV is sloping down, and we don't seem to have the momentum yet to test the upper bound here at $3148. Keep your eyes on $2965 for support. If it does not hold then look out below.
BITSTAMP:ETHUSDLong
by quantguy
2
Bitcoin Stumbles, RecoversBitcoin dipped last night and it appeared that we may have given up the $45K range. But we saw support quickly from just above our level at $43.8K. Currently we are testing $45.6K again from below. This is roughly the midpoint of the range between $45.2K and $46.2K. Bitcoin has established value here before, so we may anticipate it to do so again. But these levels have proven to provide significant resistance in the way of a rally, so be mindful of that in the event BTC catches a bid. After that, however we have a vacuum zone to $48.2K which is one of the final levels of the $40K handle. The Kovach OBV has dipped sharply in a divergence with the price.
BITSTAMP:BTCUSDLong
by quantguy
Stocks Recovered Fast!!Stocks retraced quite a bit to 4421, a new technical level under 4431. The selloff came yesterday after renewed Coronavirus panic swept in after New Zealand entered lockdowns. This was swiftly bought back midday and we've retraced about 50% of the selloff. Currently, we're finding support at 4440. The Kovach OBV is still pretty strong, suggesting that the correction was paltry with respect to the overall bull momentum. Watch for the S&P to test 4462 again. Our next profit target remains 4487.
FX:SPX500Long
by quantguy
Stocks Make New Highs!!Stocks saw a selloff yesterday morning but quickly found support, at 4440, which we have identified as a new technical level. This is just above 4431, where we thought we'd see support. After finding support here, we immediately caught a bid sending us smashing through our profit target at 4462, and falling just short of our next target at 4487. We are seeing a red triangle on the KRI at the high, confirming steep resistance, but getting support at 4462 again. We should be able to establish value here at higher levels between 4440, 4462 and 4487.
FX:SPX500Long
by quantguy
Stocks Meet ResistanceStocks have reached our profit target at 4462, and seem to be stalling there. We will see if the Biden administration's epic, incendiary failure in Afghanistan will have an impact in the S&P closer to the open. For now, it looks like it will establish value between 4431 and 4462. The Kovach OBV is strong but has leveled off suggesting that stocks may be taking a breather before another rally. We are seeing not one but four red triangles on the KRI which suggests that we are facing stiff resistance at 4462.
FX:SPX500Long
by quantguy