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Kovach

Litecoin Tops $114, What's Next??Litecoin has ripped showing impressive momentum with respect to the majors. We have broken through $109 solidly and then teckled $114 with ease. We made it as high as $118 or so, just below our next technical level of $120, before retracing. Currently we are equilibrating around $114. We could be forming a dragon head pattern, and if momentum persists, we could be gearing up for another break out. If so, the next target is $120. If not, then be careful of the vacuum zone below to $109.
BITSTAMP:LTCUSDLong
by quantguy
$3K Still a Barrier for ETH 🤚🛑🚧Ethereum has retraced from highs at $2965. We saw an enormous buying wave which topped out before the hard limit of $3K. The retracement could just be a technical Elliott wave corrective phase, and if so, we expect support from the lower bound of $2852. We appear to be seeing support here from several green triangles on the KRI. If support holds, anticipate ETH to range between this level and $2965, with $3K a hard upper bound for now. If it breaks, then $2762 is our next level of support.
BITSTAMP:ETHUSDLong
by quantguy
2
US Dollar to Test Highs??The DXY has formed a double top at 99.40. We seem to be getting great support from 97.73, confirmed by green triangles on the KRI every time we test this level. We seem to be in a longer term sideways corrective phase with a lower bound at 97.73. We seem to be in the middle of the range right now, so it is important to see what we do from here. If the DXY is able to get a lift again it will likely test highs at 99.40. The price action is looking a bit weak, so we may test 97.73 again. If so, that would suggest we are forming a bear wedge pattern and perhaps portend lower prices perhaps at 97.32.
TVC:DXY
by quantguy
Stocks Back to Life??Stocks have received a nice buying wave, blasting through 4440. It appears we are back to bull mode, as this was the level to break before we could consider higher levels. We do appear to be facing some resistance at 4462, an intermediary level before 4487, which is the next relative high and key level to break before we can consider 4580 which is a major target, and high of Frebruary. This level was tested and rejected twice, forming a double top that will be difficult to break out of. If we reject current levels, anticipate support at 4408.
FX:SPX500Long
by quantguy
Gold Finds Support in the $1900'sGold is stabilizing in the low 1900's. We appear to be topping out at 1956 after crossing the vacuum zone above 1936. However, 1956 proved to be prohibitive as we predicted in these reports. The Kovach OBV has leveled off indicating that we are likely to range between 1905 and 1956, and will likely consolidate further. There are a cluster of levels above 1956 to provide strong resistance but if we are able to break out then 2000 would be the next major target.
COMEX:GC1!
by quantguy
Stocks Reach Our Target!!Stocks had another day of gains, breaking out to test 4408, the exact level we identified here in these reports. We are seeing two red triangles at this level on the KRI suggesting it is providing resistance for now. The price action does appear to be rounding off, suggesting that we may be in for a retracement or some ranging. Candidate levels for a dip include 4380 and 4327. The Kovach OBV is still pretty bullish but does appear to be rounding off as well.
FX:SPX500Long
by quantguy
Oil Regains $100Oil has gotten a lift from the mid $90's back to the $100's. We were able to break through $101, and are currently ranging in the vacuum zone between $101 and $106. The Kovach OBV has picked up slightly as oil has gained momentum. It is likely that most of the geopolitical factors are priced in, so we might not see an aggressive rally back to highs, but a gradual progression is likely. We should see support from the base of the $100 handle, but if not, then we could retrace all the way back to $95. Our next target is $106, then there is a vast vacuum zone to $116.
NYMEX:CL1!Long
by quantguy
DXY Retraces, PivotsThe DXY has retraced significantly from highs. The level 99.40 has proven to be an absolute high for now, and the dollar has rejected these upper levels as we have predicted in these reports. We have retraced lower through multiple support levels including 98.82, 98.24, and 97.89. Finally, it appears we are seeing some support just above the next level down confirmed by a green tirangle on the KRI just above 97.62 at 97.73, which we have added as a new technical level. From here, 97.73 should continue to provide support but if not watch 97.63, 97.47 and 97.32.
TVC:DXYLong
by quantguy
Bitcoin Holding $40KBitcoin has topped out at $41.6, the exact target we have predicted here. It got a lift from the range it had held at $38K or so, but momentum quickly faded and we have established a range again between $40K and $41.6K. The price action is steadily drifting downwards, as the Kovach OBV levels off. Watch for support at $40K but if not, we could reestablish the range between $38K and $40K once again. We have two significant levels in the $41K's to break through but if we can do that the next target is $43.1K.
BITSTAMP:BTCUSD
by quantguy
2
Ethereum Presses Higher!! 📈Ethereum got a nice lift from the mid $2K's to $2800 or so. Although level $2852 was prohibitive for ETH, we still were able to break past $2762 which is a significant level, and recent high which was rejected earlier this month. We have found support at $2762, confirmed by a green triangle on the KRI. It appears we are at least establishing a new range between $2762 and $2852. If the lower bound does not hold watch the vacuum zone to $2651. Otherwise, the next target is $2965.
BITSTAMP:ETHUSD
by quantguy
3
Litecoin Pressees HIgherLitecoin has blasted off with the Fed decision yesterday. Cryptocurrencies and other "Risk On" assets have benefitted from the certainty of the decsion. The hike has been pried into the markets for months. Litecoin found support at $101, and tested $105, breaking it solidly, before breaking $109, which we have added as a technical level. We broke above that yesterday, but could not quite make it to $114, the next target. Currently we are testing $109 again, this time from above. We should find support there but if not, $105 or $101 should hold. The Kovach OBV has leveled off, which implies we will range or retrace.
BITSTAMP:LTCUSDLong
by quantguy
Ethereum Rallies Over 10%!!Ethereum has pivoted from $2500 or so and rocketed up to higher levels in the $2700's. The FOMC decision did great for "risk on" assets as we were predicting in these reports. The Kovach OBV has ripped higher, but is starting to level off as ETH finds resistance at $2762. This remains a barrier confirmed by a red triangle on the KRI. From here we could range further, which is likely as ETH feels out this price range. If we retrace, the $2500's should provide a cushion. The next target is $2852, though it is doubtful we will test that.
BITSTAMP:ETHUSDLong
by quantguy
2
Oil Tests $100 AgainOil has continued its decline but the bleeding seems to have stopped for now as we have found support in the mid 95's. We have found support at $95.24 as confirmed by multiple green triangles on the KRI. Subsequently we have lifted to $100 which seems to be providing resistance at this point. The Kovach OBV is still bearish but does seem to be leveling off. If we are able to recover then $106 is our next target, otherwise we should find support again at $95.24. Watch out for the vacuum zone to $92.03.
NYMEX:CL1!Long
by quantguy
Stocks Blast Off After FOMC!!Stocks have rallied after the first rate hike in three years by the Federal Reserve. Novice traders might surmise that stocks would collapse off this news, however dedicated readers here should have been prepared. We called this rally days ago. Why? The rate hikes have been priced in months ago and we are seeing a 'relief rally' which follows with more clarity on monetary policy.We pivoted from 4144 and shot up through multiple levels to break highs at 4327. When the decision came we saw a brief pullback then a subsequent rip to even higher leves (A friend bought at 4261 and crushed it, cheers MJ!!). From here we can expect either ranging or higher prices, but will likely see resistance at 4421. We must break this level to see anything higher. Currently, we are seeing a brief pullback to 4327, where we should find support. If we retrace further 4293 should provide further support.
FX:SPX500Long
by quantguy
Bitcoin Lifts Ahead of FOMC. What to Expect??Bitcoin got a lift last night with the stock market, as investors prepare for the 25 basis point (one quarter of a percentage) hike in interest rates . As the correlation between Bitcoin and stocks (and other risk on assets) increases, investors appeared to gain a surge of confidence with the certainty of the rate hike to fight inflation . We tested as high as $41.6K, which was our target from yesterday, then sold off immediately. After the volatility, we have seen a steady lift in BTC, back to $40K or so at the time of this writing. We will see if stocks continue to rally after the FOMC meeting, and if so this should bleed into Bitcoin as well. The levels $41.6K, $41.9K and $43.1K remain targets if see a lift. If not, then we will likely retreat to support at $38.2K.
BITSTAMP:BTCUSDLong
by quantguy
Relief Rally in Stocks ahead of FOMCStocks got a major lift ahead of the FOMC rate decision today. As we are all well aware, the Fed is expected to lift rates by 25 basis points (one quarter of a percent) to begin their 'firefight with inflation' . The rate hikes were heavily priced into the markets, and when the decision is made, we can expect a relief rally as the uncertainty is lifted. Inflation is weighing on global stocks, so the action could help ease investor fears. The Kovach OBV has picked up sharply with the buying, taking us all the way back up the entire range to 4327. If you recall this was our exact level from yesterday's report. It is likely that the majority of the rally has taken place, but we could test as high as 4421, a relative high. If we face resistance, however, we could retrace the entire rally back to support at 4144.
FX:SPX500
by quantguy
Treasuries Get Smashed as Investors Brace for HikesBonds continue their selloff ahead of the FOMC meeting today . The Fed is expected to raise rates, and we could be in for as many as 6 rate hikes total this year. This is impacting yields sending bond prices tumbling. ZN has made a brief attempt at higher levels but got batted down around 125'07, a level we identified yesterday. It is likely to continue the bear trend, currently finding support at 124'19 by a thread. The next target below is 124'06.
CBOT:ZN1!Short
by quantguy
Litecoin Maintains $100Litecoin has dropped from $105, which we predicted yesterday. We noted that $105 was providing prohibitive resistance and there was no reason to expect any momentum in crypto unless some major news broke. The level $101 has provided support, confirmed by several green triangles on the KRI. We expect support to hold and for ranging to continue. However, watch the vacuum zone to $94, below. If we are able to break $105, there is a vacuum zone above as well to the next target at $114.
BITSTAMP:LTCUSD
by quantguy
1
Ethereum in a Narrow RangeEthereum has leveled off in a very narrow range between $2509 and $2595. This is a very narrow range for ETH as ambivalence in the crypto markets hits all the majors. We have very low activity on the network as well, with gas prices last night falling as low as $2 for some operations. If this disinterest continues, we could test lower levels. The first target below is $2454, then $2402, which should be considered a floor for now. From above, we must break $2595 then $2651 is the next target.
BITSTAMP:ETHUSD
by quantguy
Bitcoin Holds the Range... For NowBitcoin is ranging safely in the $38K's. We made a brief attempt at $40K again which was quickly batted down. Resistance at this level is confirmed yet again by a red triangle on the KRI. We appear to have strong support from $37.7K, with this level holding strong after an attempt to test lower levels. If these levels do not hold, watch the vacuum zone to $36.7K. From above, $40K seems to be a prohibitive barrier, but if we can break through the next target is $40.8K then $41.6K.
BITSTAMP:BTCUSD
by quantguy