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Quantguy

Can Bitcoin Regain $40K??Bitcoin has rejected the $40K's yet again, feeling the weakness from stocks, and strength in the US dollar. The Kovach OBV is registering the selloff, but does appear to be bottoming out, suggesting Bitcoin may be finding support at current levels. We did see support from $37.7K, one of the exact levels we identified here. However, we are not seeing much momentum come through, and are facing immediate resistance from the next level above at $39.2K, confirmed by a red triangle on the KRI. If we are able to break through, then we will likely face extreme resistance in the low $40K's. If we break through $37.7K, then $36.7K is our next target for support.
BITSTAMP:BTCUSDShort
by quantguy
DXY Nearing Our Profit Target!! 🤑📈Oil has strengthened despite weaker commodities and a stronger dollar. We found support at 95.24, the exact level we identified here in these reports, which provided a good pivot point and springboard to higher levels. We were able to break through 100 and 101, which provided some resistance. Though we are currently above 101, momentum seems to have petered out for now. We are currently hovering just above this level at 101, in the vacuum zone between this and 106. The Kovach OBV is wavering so we don't quite have the confidence that the bull run will continue for now, but if it does, 106 is a target. If the low 100's fail to provide support then we should see it again from 95.24.
TVC:DXYLong
by quantguy
Stocks Press LowerStocks have broken lower as the pivot from the initial selloff has failed. We tested relative lows briefly at 4214, before breaking lower to test 4144, which was the exact level we have been calling out this week. Support at 4144 held, and we are currently making a weak run for higher levels, though we seem to be having some issues with 4214 from below. The Kovach OBV is oscillatory near lows, suggesting we may be nearing a bottom. If we are able to break through 4214, we must first break through 4306 before considering higher levels. From below 4144 and 4122 should hold for now.
FX:SPX500Short
by quantguy
Litecoin Establishes Value in the Low $100'sLitecoin has found support after giving up the $100 handle briefly, and testing the high $90's. We were immediately bought back, breaking through $101, and testing $105. However, momentum quickly fizzled and we have retraced, finding comfort in the range between $101 and $105. The Kovach OBV does suggest a bull divergence, we should face prohibitive resistance from $105 or $109 for now. If the selloff continues, we anticipate $94.84 as an absolute floor for now.
BITSTAMP:LTCUSD
by quantguy
Best Trading Strategy for Bitcoin!! Read More for Details!!Bitcoin has pivoted from lows completely in tandem with the bounce we saw in stocks. We have regained the $40K handle, as we anticipated here yesterday. However, we are seeing great resistance just below $40.8K, suggesting bulls still are not incentivized to buy it back higher. Range trading seems like the best option here. Be patient and scoop up some BTC in the $30K's, sell it in the low/mid $40K's. If we have enough momentum to break out, we will next face great resistance from the $42K's. If we give up the $40K's again, then we will likely test $38.2K again.
BITSTAMP:BTCUSD
by quantguy
Stocks Try to Regain FootingStocks have found support around 4214, just a few levels above our anticipated floor of 4144 or 4122. We still have shed over 400 points in just three days, but we have seen a nice pivot from lows. There does appear to be volume behind the rally, as the Kovach OBV has picked up notably. However, we met immediate resistance at 4306, one level away from 4327 which we suggested as the first major level where we could anticipate resistance. From here, it is likely that stocks will range to establish value in this new territory, with 4144 and 4327 as lower and upper bounds respectively. If momentum continues off of this pivot and we break 4327, then 4364 is the next target.
FX:SPX500
by quantguy
Litecoin Gives Up $100!!Litecoin has taken a dramatic turn for the worse, completely giving up the $100 handle albeit for a bit. We smashed through all of our technical levels in the low $100's including $111, $109, $105, and $101. We did see support start to form around $99, confirmed by a green triangle on the KRI. We were then bought back up to $100, suggesting that the markets feel sub $100 prices are enticing enough for a buy-back. If momentum returns, expect resistance at $101 and $105. We should see further support below, if needed, by $94.84.
BITSTAMP:LTCUSDShort
by quantguy
Ethereum DUMPS!!Ethereum plummeted through the $3K barrier, testing the first two highest levels of the $2K handle. We have currently broken through $2852, but appear to be finding support in the vacuum zone between this and $2762. The Kovach OBV has been edging downward and has taken a dramatic turn south with the selloff. At this point it would be FOMO to enter a short position, though we are in the middle of a vacuum zone and $2762 is the next level where we should find support. If things pick up, expect resistance at $2852 and $2965.
BITSTAMP:ETHUSDShort
by quantguy
Bitcoin Gives Up $40K!!Bitcoin plummeted off global recession fears and a strong selloff in stocks. We have completely given up the $40K handle for now, but are finding support at $38.2K. The Kovach OBV is abysmally low, and hugging a lower bound, after turning sharply south with the selloff. We do appear to be getting good support from current levels, but if we are able to break through, then $36.7K is the next level where we anticipate support. BTC does appear to be oversold, so a short trade would be FOMO. If we pivot, expect resistance from $40K.
BITSTAMP:BTCUSDShort
by quantguy
The US Dollar Hits Our Next Profit Target!!The US dollar continues to surge, barely affected by Macron's win in France, which gave the Euro a slight relief rally. We dipped down to 99.82, where we saw strong support, as anticipated. After that, we rocketed back through 100, to hit resistance at 101.39, and eventually blast through that, to hit our next profit target at 101.70. We are currently meeting resistance confirmed by a red triangle on the KRI. If we retrace, expect support at 101.39, 100.98, or 100.46. If we are able to continue the bull rally, then 102.86 is our next target.
TVC:DXYLong
by quantguy
How Low Can Stocks Go??Stocks plummeted as global recession fears mount. The strict lockdown in China has rippled through the markets, and additionlly PMI was a huge miss on Friday. We have smashed through our anticipated level of support at 4327, which we have been calling out for weeks now. We are currently finding support nearly 100 points below at 4228. We are seeing a green triangle form on the KRI to confirm support. The Kovach OBV has taken a nosedive, confirming the bear momentum. If the rout continues, then 4144 or 4122 are likely targets for support, and potential long positions. If we are able to muster the strength for a relief rally, then 4327 should provide resistance, then 4364.
FX:SPX500Short
by quantguy
Hard Rejection in Bitcoin!!As discussed here, Bitcoin was able to break through $42K, but $43.1K provided prohibitive resistance. We rejected this level hard and fell through the $42K's where we anticipated at least some support, back to the base of the $40K handle. A wick even tested the high $39K's. We have since recovered $40K, just barely. We are making an attempt to test $40.8K, with a red triangle on the KRI confirming some resistance here. We should see further resistance from the $41K to $42K range, and support from $39.2K if we breakdown further.
BITSTAMP:BTCUSDShort
by quantguy
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The S&P 500 Tanks, Will it Find Support??Stocks got hammered after testing resistance at 4504, just one level down from 4521, a relative high and the exact level that we predicted would provide resistance yesterday. We completely retraced the progress stocks have made from relative lows at 4364. The Kovach OBV has slumped, but does appear to be curving as we are finding support. If we are able to pivot off current levels, then 4521 remains our anticipated ceiling. If we are able to break down further, then 4327, a relative high, seems like a reasonable level to expect support.
FX:SPX500
by quantguy
Bonds Continue the Bear RoutBonds have taken another turn south, after flirting briefly with 119'23. With the Fed maintaining their hawkish stance, there is little to support a breakout, or a significant technical retracement. We have broken through lows at 119'01, and are currently hovering over our next target at 188'04. The Kovach OBV has been abysmally bearish for some time now, but does seem to be gradually leveling off, perhaps indicating a bottom soon. If we see a relief rally, then 119'23 should provide resistance.
CBOT:ZN1!Short
by quantguy