Litecoin Rejects $60Litecoin made a concerted attempt to established the $60's. We topped out at our level at $61.75 exactly, confirming the veracity of our levels in these reports. We promptly rejected this level and fell back to support at $55.84. If we cannot sustain this, then we have some strong support levels in the low $50's. Otherwise, expect Litecoin to establish value in the mid $50's until momentum comes through either way.
Quantguy
Ethereum Stabilizes at $1500Ethereum gave up the $1600's as we anticipated yesterday. It was making a valiant attempt, but multiple levels of resistance and a lack of momentum resulted in a rejection back to current levels, where we are finding support at $1500, a psychological level. It is likely that we will find a value area soon between $1424 and $1653. The Kovach OBV has slumped, but does appear to have bottomed, which supports the assertion that we will range in a sideways correction until more momentum comes through.
Bitcoin Pulls BackAs predicted, Bitcoin was not able to sustain highs and rejected $23.9K, falling back to support at $22.4K. We are seeing a great deal of support, confirmed by multiple green triangles on the KRI. It seems likely that BTC will range between $22.4K and $23.9K until some definitive momentum comes through. Note that if we break through $22.4K, we are likely to reestablish the range between $18.6K and $22.4K.
Stocks ConsolidateStocks are consolidating at highs. Volatility has constricted immensely and we have been holding this narrow range for the past two days. This suggests that a breakout is imminent. The Kovach OBV has slumped and we are at highs, where we will encounter resistance. Unless sufficient momentum can come through we should break down to 3909 or 3825. If we are able to break out, then 4068 is the next target.
Can Litecoin Sustain $60??Litecoin is consolidating just below $60. We appear to be seeing a bull wedge forming, and another breakout could take us to $61.75 or $64.37. We appear to be seeing good support from $55.84, but if we break through that, then we should see further support from the base of the $50 handle at $50.64 and $51.92.
Ethereum Mkaes a Run for $1600Ethereum appears to have solidified the $1500's, making a run for $1600, where we are seeing resistance. Multiple red triangles on the KRI are confirming the resistance here. The Kovach OBV has slumped, so be prepared for a retracement, which could take us back to $1424 or $1341. If we correct further than that, we will find support around $1235. If we can sustain another breakout, there is lots of resistance in the $1700's, but $1821 will be the next target after that.
Bitcoin Finally Breaks Out of the RangeBitcoin finally broke out of the range, but is encountering a lot of resistance at the next target above, which we identified yesterday at $23.9K. Multiple red triangles on the KRI are confirming the resistance, but the Kovach OBV is strong. If momentum can sustain, then $25.1K is the next target, then there is a vacuum zone to $27.9K. If we retrace, we should see support at $22.4K, then $20K. A retracement could take us back to the familiar range between $18.6K and $22.4K.
Oil Hovers Under $100Oil has edged upward, but is meeting lots of resistance in the high $90's, just below the target of $100. We edged past $100 briefly, only to retrace back to comfort at the base of the $99 handle at the time of this writing. The Kovach OBV is trending up, but appears weak, suggesting we will need more momentum to break through $100 definitively. Many red triangles on the KRI are signalling resistance here, so anticipate a rejection back to $95.24, or even $92.03. If we are able to break through the low $100's there is a vacuum zone to the next target of $106.
Can the S&P 500 Maintain the Rally?The S&P 500 has broken out, testing the very top of the range it has established this month. As predicted yeseterday, we hit our target of 3909. Momentum continued and we were able to hit 3963, before a brief retracement took us back to support in the low 3900's. The Kovach OBV is still flat, suggesting we will need more momentum to continue the rally. Watch for momentum at open. We are still at resistance from the top of the range and if we don't see much momentum at open, we can easily retrace back to support at 3810 or so. If we are able to break out, we only have a few more levels above until the 4K handle which is the next target.
Litecoin Trends Higher, What's Next??Litecoin is tending to the high $50 handle, peaking just below $60, but finding support at $55.84. We are feeling out the midpoint between this level and $61.75, which remains a barrier and must be broken before we can consider testing higher levels in the $60's. The Kovach OBV is surprisingly quiet dispite the rally, so we anticipate a retracement soon, to $51.92 or $50.64.
Eth Tops Out in the $1600'sAfter breaking the upper bound of the range ETH has held for over a month, we have been on a steady rally. Once $1235 was broken, we were quickly able to solidify the $1400's then the $1500's, and even top out in the $1600's over night. Our level at $1653 seems to be a barrier for now, with a red triangle on the KRI to confirm resistance. The Kovach OBV has dropped off hard, so anticipate a retracement soon, potentially to $1424 or $1341. If not, we should have strong resistance in the $1700's, which should slow our ascent to $2K.
Bitcoin Poised to Break Out??Bitcoin is trending upwards, but is having issues breaking out of the range. We are seeing a lot of resistance from the upper bound at $22.4K, confirmed by multiple red triangles on the KRI. The Kovach OBV is fairly bullish, but it remains to be seen if there is enough momentum to break out. If so, $23.9K and $25.1K are the next targets. If we retrace, watch for support at the base of teh $20K handle, with $18.6K a likely floor.
DXY RetracesThe US dollar has retraced further falling almost three handles from the 109's to the 106's. This technical retracement was due after the dollar's meteoric rally. We blasted through several handles, and came just shy of our final target at 109.86. We anticipate strong support at 106.13. If not, there is another level in proximity at 105.78. It is likely that from here we will equilibrate, perhaps around the 107's, at 107.20 in particular.
Stocks Fail to Break OutAs anticipated yesterday, the S&P 500 has rejected highs and sought support 3810, just under the mid point of the range the S&P 500 has been holding for July. This retracement was highly probable because we did not see the momentum follow through at open that it would take to break out higher. From here, we could test lows again, around 3737, which should hold as a floor. If momentum returns, we could test highs again at 3909, and potentially form a bull wedge pattern at this level which could indicate a potential breakout later this week.
Litecoin BreakoutLitecoin has broken out past highs at $55.84, a level that was providing strong resistance for the past month. We have broken out into the high $50's, with $61.75 the next target. If the rally in stocks can continue, and the dollar remains softer, we could easily hit this target today or tomorrow. A retracement could take us back to support at the base of the $50 handle so be careful.
Ethereum Breaks Out!! 🚀📈🤑Ethereum has rallied significantly, breaking out of the range. We smashed through $1235, the upper bound of the range we have been maintaining for over a month, and shot past the next two levels above, at $1341 and $1424. We are in the middle of a vacuum zone to the next level after that at $1547. That would mark over a 50% rally from the base of the $1K handle which we have seen just 5 days ago. These returns have bested bitcoin by double digits, leaving traders wondering if this rally is here to stay or just a bull trap. So far the news seems to suggest this is a technical breakout . If we are able to maintain it, then $1547 is the next target, then $1653. If we retrace, we could easily drop back to the previous range between $1017 and $1235, so be careful.
Bitcoin Tests Highs of the RangeBitcoin saw a nice pump from a softer dollar and strength in stocks. We were able to break out of the $20K handle, and is currently testing the next level above at $22.4K. This is the very top of the range, and a well established level of resistance. A red triangle on the KRI provides confirmation that we are running into resistance here. If we can break through, then the next targets are $23.9K then $25.1K. If we fail to break out, we could test the base of the $20K handle again or lows at $18.6K.
Oil Gives Up the $100'sOil appears to have bottomed out at our exact level of $92.03, with a wick extending to $90.06 as we predicted last Friday. We were then able to pivot back up to the mid $90's, meeting swift resistance at $96.88. We have several red triangles on the KRI signifying resistance around this price area, just before $100. Sub $100 prices will surely be welcome to consumers world wide, after soaring oil prices have hit relative highs in the $100's just a few months back. The Kovach OBV has bottomed out, which suggests that we will need strong momentum to come through to break current resistance. if so, $100 and $101 are the next targets. Othwerwise, we can expect to test $92.03 and $90.06 again.
Can Stocks Break Out??Stocks have rallied, with the S&P topping out at 3909. We have completely retraced the range, as recession fears and soaring inflation scared market participants last week causing a dip that tested lows at 3737. After breaking through this level and testing the next level below at 3714, we promptly pivoted, and retraced losses completely. However, we are running into resistance at 3909, and resistance is building confirmed by several red triangles on the KRI. The Kovach OBV has picked up a bit, but it will take more momentum to break through to higher levels. Resistance above is thin, and there are only three levels above before the 4000 handle. If we fail to break resistance, we should find support at roughly the midpoint of the range, at 3848, or again at lows at 3714.
Litecoin Pivots back to the low $50'sLitecoin has bottomed out just above our level at $45.48. We have pivoted off lows and made a run back for the $50's. Currently, $50.64 and $51.92 are providing steep resistance as we anticipated. If we are able to break through then we will surely meet further resistance at $55.84. The Kovach OBV is still completely bearish, without even the slightest uptick even with the pivot. This suggests a bear divergence that will surely take us back to support in the $40's again.
Ethereum back to the $1200's!!Ethereum has pivoted off lows, rocketing back to $1235, exactly as we anticipated. The Kovach OBV seems unphased by this attempt, suggesting that we do not have enough momentum to press higher. Many red triangles on the KRI signal strong resistance. If we are able to break through, then $1341 is the next target, otherwise we are likely to retest lows, first finding support at $1100, then testing the lower bound at $1017.
Bitcoin Tests Highs of the RangeBitcoin has pivoted off lows as we predicted, but has run into resistance at the highs of the range at $20.7K. We have multiple red triangles on the KRI confirming resistance. The Kovach OBV has edged up, but does indicate any significant momentum that could break through to higher levels. If we are able to then $22.4K is the next target. It is much more likely that we will retrace the range back to support at $18.6K. Mean reversion trading has been the best tactic for trading Bitcoin for over a month now.
DXY Breaks Out Again!!The US dollar has broken through highs and our profit target of 108.50, in a seemingly unstoppable rally. We have broken out to the 109's, finally retracing slightly around 109.25 or so. Recall that our next target is 109.86. We have fallen just short of that. It seems reasonable that we have a significant retracement at some point, to say 107.20, or 106.13, but it would be inadvisable to get in the way of this freight train at this point.