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Quantguy

Ethereum Slices Through Support LevelsEthereum has rejected its attempt for the $3K's. We saw strong resistance at $3K, with several red triangles on the KRI and a rounding top in the price action. We have sliced through three major levels with the selloff in a stairstep type pattern. We broke $2852 and $2762 with ease and currently appear to be making a run for $2651. The Kovach OBV is arching down, but we might bottom out soon. If so, $2651 or $2556 are good candidates. If we somehow rally, then $3K remains a barrier.
BITSTAMP:ETHUSDLong
by quantguy
Bitcoin Stumbles, Finds Support at $41KBitcoin has retraced from $45K to find support at $41K. This is exactly what we predicted yesterday. Bitcoin was having a great deal of trouble with $45K, with the price action rounding off, and several red triangles on the KRI confirmed resistance there. We seem to be getting good support at $41K, but if it fails, we will surely see further support at $40K. There is a vacuum zone back to $38K, which has been well established in these reports, and dedicated readers should recall this well. The technical level of $38K is also a major Fibonacci on the day level, so keep this in mind. If we somehow can muster the strength for a rally, $45K will surely be a barrier for now.
BITSTAMP:BTCUSDLong
by quantguy
3
Dragon Head Pattern in Oil!! #OOTTOil has topped out at $116, before retracing to $106. This is 1000 tick spread which is formidable, even for oil. But that is to be expected with this rally of historic proportions. We appear to be forming a possible dragon head pattern, and are currently exhibiting volatility between $106, and $110. The Kovach OBV has been meteoric lately, but has since arched over with the pull back. we don't have any reason to expect much of a retracement, but there is a vacuum zone below to $100. We must first break $116 before considering our next profit target of $122.
NYMEX:CL1!Long
by quantguy
Stocks Cautious as War Rages OnStocks have been feeling out the 4300's and low 4400's. We made a brief attempt to test 4400, which was quickly thwarted by 4408. It seems that the war between Russia and Ukraine is still instilling market participants with trepidation, especially after Russian forces attacked a nuclear power plant in Ukraine. The S&P 500 has since rejected highs and tested lows of the value area at 4272. From here we could test highs again, but will have to break 4408 in order to consider our next profit target at 4440. From below, if we break 4272, then 4122 remains our anticipated floor, but we will likely see support at 4230 first.
FX:SPX500Long
by quantguy
Gold Edges HigherGold is steadily uptrending but meeting fierce resistance. We appear to be forming a bull wedge with 1956 as an upper bound as a 1956. There are several levels above this to provide resistance and after that there is a relative high at 1973 or so which is sure to provide resistance. The Kovach OBV is steadily trending up suggesting a slight bull bias. But if we reject current levels, then 1936 will provide support, but we could test as low as 1895, which is our floor for now.
COMEX:GC1!Long
by quantguy
Three Reasons Not to Get Excited About Litecoin 🥱Litecoin continues to hold the range between $105 and $114. Currently, we are drifting below this upper bound at $111 or so. The Kovach OBV is edging down, suggesting there is little or no buying in LTC at this point. When we see that combination of lack of buying interest, a hard upper bound, and a bear bias to the indicators, we can expect lower prices, unless strong momentum comes through. If so, then we still must break $114 in order to see $120. Otherwise, $105 should continue to provide support, then $100 if that fails.
BITSTAMP:LTCUSDShort
by quantguy
1
Ethereum Struggling with $3KEthereum has made multiple attempts to reclaim the $3K handle with every attempt rejected. We are seeing the price action round off, with several red triangles on the KRI at $3042, suggesting this is a top for now. Unless more momentum comes through, we may see another dip to lower prices, like $2762 or $2651. However, we are seeing good support from $2852, which we anticipate holding for now. The Kovach OBV has dropped off a bit, dampening hopes for a bull breakout.
BITSTAMP:ETHUSDShort
by quantguy
Bitcoin Still Struggling with $45KBitcoin has made multiple attempts to break $45K, but every attempt has been thwarted. Wicks reject higher levels every time, and we have multiple red triangles on the KRI. Also, the price action is rounding off, which suggests a top at current levels. We are seeing support from $43.1K, as we have been mentioning in these reports, however support appears to be hanging on by a thread, and there is a vacuum zone to $41.9K. This level has held in the past, but if not, $40K is another strong technical and psychological level. If we are somehow able to break $45K, then $47.4K is the next target.
BITSTAMP:BTCUSDShort
by quantguy
Bull Wedge Forming in the DXYThe DXY has pulled back from the double top we identified at 97.89. We have seen strong resistance at this level confirmed by red triangles on the KRI. However, we are not seeing a rejection from these highs and appear to be seeing a bull wedge forming. The Euro has fallen to lows last seen in 2016 against the AUD and GBP, which has contributed to the DXY's strength. If we are able to break out then 98.22 is the next target. If we retrace, we should have support from 97.32, but if not there is a vacuum zone to 97.03, then another one to 96.65.
TVC:DXYLong
by quantguy
Oil Prices Soar, Next Target?? #OOTTOil has continued its tremendous ascent. We are well into the $100 handle at this point, with little in the way to suggest that it may turn back. We did see some resistance at our intermediary target of $110, but a strong burst of momentum smashed through this target and hit our next profit target of $116.61 to the tick. The next profit target is at $122, which brings us closer to all time highs at $147, which we last saw in 2008. The Kovach OBV is still very strong, without even the slightest hint of leveling off. However, at some point a technical retracement is to be expected, and if so, $110 or $106 should provide support.
NYMEX:CL1!Long
by quantguy
2
Litecoin Struggles to Break OutLitecoin continues to meet resistance from $114, with two red triangles on the KRI confirming resistance here. We have been bouncing around between $100 and $114 since the end of September, and appear to be forming a nice value area here. The Kovach OBV has slumped a bit, suggesting there is a slight bear divergence, so if we retrace, then $105, and $101 should provide support but watch the vacuum zone to $94. If we are able to break $114 then $120 is tne next target.
BITSTAMP:LTCUSDLong
by quantguy
1
Ethereum Tests $3K's!!Ethereum got a lift with Bitcoin, but $3K still remains a barrier. We are seeing two red triangles on the KRI at $3042, with $3K holding by a thread. We do appear to be forming a bull wedge, or other bull consolidation pattern, but it could go either way at this point. Crypto is looking a bit top-heavy and a retracement could take us back through $2965 to $2852 or lower to $2762. The Kovach OBV is still bullish and appears to be curving up suggesting a bull divergence with the bull wedge, which may suggest a breakout. If so, then $3148 and $3200 are the next targets.
BITSTAMP:ETHUSDLong
by quantguy
Bitcoin Faces Resistance At $45KBitcoin has held highs after regaining the $40K handle. We blasted past resistance to test $45K once again, where we are currently meeting resistance as confirmed by red triangles on the KRI. The Kovach OBV has leveled off so we are likely to continue to range until more fundamental interest returns. Sanctions on Russia appear to be boosting crypto prices, perhaps suggesting Russians may use crypto as a way to evade sanctions. If we see more buying interest come through for BTC, then we must first break $45K, then $47.4 is the next major target. If we retrace, we should have support at $43.1K, but after that there is a vacuum zone below, where we will have further support in the $41K's.
BITSTAMP:BTCUSDLong
by quantguy
Bonds Soar off the Russia/Ukraine ConflictBonds have soared as risk off sentiment prevails as the Ukraine conflict intensifies. Russian forces are bearing down on Kyiv, the capital of Ukraine and civilian casualties are mounting. ZN has blasted off from highs at 127'08, through 127'22, and well into the 128 handle. We have cleared 128'01, the first level in the 128's, and have just broken through 128'10. With such a strong bull impulse, it is difficult not to anticipate a pullback or sideways currection at this point. We are likely to at least range at current levels, between 128'01 and 128'11, with a ceiling at 128'24. If not, expect a retracement to 127'22. Worst case, it is certainly possible that we will retrace the entire move to 127'08 (recall that gold did this just last week).
CBOT:ZN1!
by quantguy
Litecoin Lifted from Low $100'sLitecoin has gained strength and edged up in the $100 handle. We have finally crossed $105, but are meeting resistance from $114, which has proven prohibitive for LTC for the latter half of February. A red triangle on the KRI confirms resistance. The Kovach OBV has picked up, but is starting to wane as we appear to be rejecting $114 again. If so, then $105 and $100 should provide support. If we are able to break through then $120 is the next target.
BITSTAMP:LTCUSDLong
by quantguy
2
Ethereum Lifts, But $3K Still a BarrierEthereum has ripped with strong inflows into crypto. Bitcoin solidified $40K again, but Ethereum is struggling to regain $3K. We are currently meeting resistance from $2965, the last level in the $2K handle. The next level below at $2852 is now providing support. The Kovach OBV has curved upward, but has tapered, suggesting a possible inflection point for ETH. Our next target is $3042, the first level in the $3K handle. If current levels of support do not hold, watch $2762 and $2651 for further support.
BITSTAMP:ETHUSDLong
by quantguy
Bitcoin Regains $40K's!! 📈🤑🥳Bitcoin has rocketed off of news about the Russian sanctions. We have blasted through resistance at $40K, which we anticipated would hold, and have clawed back to $43.8K, where we are meeting resistance. We are seeing support from below in a narrow band between $43.8K an the next level below at $43.1K. Watch the vacuum zone below to $41.9K. We should have strong support there, but if not, then $40K should provide support where it just recently provided prohibitive resistance. The Kovach OBV is strong, but has started to level off. If we can muster the strength for another breakout, then $45K is the next target.
BITSTAMP:BTCUSDLong
by quantguy
Supply Concerns Lift OilOil has blasted off from yesterday's levels where it gapped up to the mid 90's. We found support at 95.24, and smashed through the next level at 96.88. After that, we made run back to $100, but are facing some resistance before that. The world is rearing from Russian supply fears, as it is in the top five oil producing countries (number two in 2022 right after the US by some sources, see here and here ). There is little in the way of fundamental data to suggest lower oil prices. However, if do see a technical retracement, then 95.24 should hold, if not, there is a vacuum zone back to 92.03. Our next target is $100, then $101.46.
NYMEX:CL1!
by quantguy
2
Litecoin Finds Support at $100Litecoin has made an attempt at recovering from the selloff to the low $90's. It reached as high as $114, where a red triangle on the KRI indicated storng resistance. It has currently retreated to support at $101 or so, which we have added as a new technical level. This seems to be holding, but if there is a further selloff, there is a vacuum zone down to 94, then 92. These should be considered floor prices for now. The $100's are likely to hold as LTC finds footing.
BITSTAMP:LTCUSDLong
by quantguy
Ethereum Retraces, $2800's Still a BarrierEthereum made a run for highs. At the same time Bitcoin was testing $40K, ETH was testing $2852. Several red red triangles on the KRI confirmed resistance as we attempted to break higher, and proved that $2852 was a max upper bound. We have since retraced back to $2556, deeper in the $2K handle. The Kovach OBV is flat, suggesting current levels should hold unless we get another burst of momentum. If current levels do not hold, then there is a vacuum zone down to $2454, with lows at $2324 a likely floor. If we see some bull momentum, then $2852 is the level to break before we can consider $3K again.
BITSTAMP:ETHUSDLong
by quantguy
1
Bitcoin Retraces from $40KBitcoin rallied from lows from the Ukrainian conflict selloff. Over the weekend, we were able to test $40K, but several red triangles suggested resistance here, and we promptly retrace deeper into the $30K handle yesterday. We are seeing support at $36.7K from a green triangle on the KRI. The Kovach OBV is not convinced of a rally however, as it is completely flat. If momentum picks up, we should expect resistance at $40K again. Current levels appear to be holding but if $36.7K breaks, there is a vacuum zone to lows at $34.9K.
BITSTAMP:BTCUSDLong
by quantguy