The S&P has retraced significantly from highs. We are seeing quite a bit of volatility as large price swings of a full ATR or more are quite common with this product right now. These price swings have even registered with the Kovach OBV which is telling us there is a lot of momentum here in these buying and selling waves. The Kovach Chande is at highs. Since...
Litecoin has broken out, in tandem with Bitcoin. It has found resistance at $145, which is exactly the level we identified yesterday, and for several days prior. It is likely to retrace a bit from here, but it is doubtful we will see lows any time soon. The Kovach OBV has picked up quite a bit confirming the new direction
Ethereum is back at highs, exactly as we anticipated in the last report. We told you that it was likely to form a consolidation pattern before another breakout. Sure enough, it appears to be forming a bull wedge. ETH is due for a breakout imminently. All the signs are there. We have consolidation at highs, and the Kovach OBV is quite bullish, suggesting...
Bitcoin has finally broken out of what appeared to be a bear wedge pattern. This is why the previous trend is so important in determining the direction of the breakout. It is currently facing resistance at $37.7K, which is a significant level that we have identified beforehand. Watch for a retracement here. Depending on how conservative you are, you can look...
Stocks saw some incredible volatility yesterday. No doubt some of this is related to the GameStop saga. The S&P 500 has completely retraced the bear move only to give back thse gains and settle around a cluster of levels beginning at 3737. It is likely to find support here, at least for the moment, which seems to be verified over the past few hours. If it...
Litecoin has received a meager burst of momentum. It will face resistance at $132, which is not only a Fibonacci level, but the intersection of a level with a trend line. The Kovach OBV is quite bearish so it is unlikely that LTC can break through this resistance just yet. We will find support at $124 and $111. Longer term, LTC does appear to be consolidating...
Ethereum has retreated from highs, finding support at a Fibonacci level and the lower bound of what appears to be another bull channel. The good news is that it has good support here, and looks like it may bounce from this level. The Kovach OBV is still very strong, so this supports our position that it will bounce. The bad news is that bull channels tend to...
Bitcoin has consolidated, narrowing the range down to just over $3K. It is currently hovering between $28.5K and $31.6K. It appears to be forming a bear wedge pattern, or a triangle correction in the Elliott Wave. We should see a breakout soon either way. The Kovach OBV has completely broken down. It has retraced significantly from the bull run. If we do...
Stocks have faced a tremendous retracement. The S&P has blasted through levels in the 3800 handle. It tested the low 3700's before finally finding support. There is a bearish cypher crab pattern on the daily chart. This is an extremely bearish sign, and such a large selloff could be the initial breakdown from this pattern. The Kovach OBV is registring the...
Litecoin appears to have caught Bitcoin's malaise. It is currently forming what looks to be a bear wedge. It is reminiscent of a head and shoulders pattern with a neckline at $124, however a head and shoulders always follows an uptrend, whereas our current situation follows a swift retreat from highs. Nevertheless, the spirit of the head and shoulders pattern,...
Ethereum has retreated several levels from highs. Currently, it is finding support just above $1233, after slicing through $1320. Both of these are Fibonacci levels. The Kovach OBV is still pretty strong, so it may be able to muster the strength to return to those upper levels. Mid term, it is likely to form a consolidation pattern, testing and rejecting highs...
Bitcoin is showing some weakness. We have mentioned before that BTC appears to be in the final phase of the corrective wave. This means we should see some action either way. Additionally, we appear to have a bull wedge pattern forming with a base at the technical level $30.2K. The Kovach OBV has fallen substantially, which suggests that we will see another...
Our prediction in stocks was 100% on point yesterday! We wrote that stocks would have resistance at highs. At the open, the Kovach Momentum indicator (short term momentum) was flat, suggesting that there was little or no momentum at all. To break through to new highs, we require a nice burst. In the absence of momentum, ATH's act as a wall, which the price...
Litecoin is still tracking Bitcoin, even in its lethargy. LTC is currently sitting at levels of support from Fibonacci levels anchored at the extrema of this most recent wave. We will have support from $132, $124, and $111. All should be considered buying opportunities. Eventually LTC should break out and we will have resistance at $138, $145 and $154. These...
After making new highs briefly, Ethereum fell back down to support at $1300. This is a strong psychological level. The Kovach OBV is still pretty strong for Ethereum. It has only registered a small dip corresponding to the rejection from highs. If Ethereum dips further it will find support $1233, $1172, or $1111. These would be good levels to buy back. It is...
Bitcoin has been quite flaccid lately. It has leveled off in the low $30K's and seems content there. The Kovach OBV has dropped off dramatically, confirming the malaise. Longer term, these are likely to be bargain levels in BTC, so if you have not added to your position, now may be the time. We will have support at $28K if BTC dips lower. Some momentum should...
Stocks had a little flash crash that was immediately bought back up. Currently, the S&P is sitting at highs. After a crash like that it was lucky to get bought back to highs let alone break out again. The Kovach OBV has run out of steam and is flat at current levels. This is not a divergence quite yet, but it does suggest stocks should at least range a bit...
Litecoin is ranging after a retracement. It's quite correlated with Bitcoin at the moment, unlike Ethereum which made new highs recently. It is healthy for LTC to retrace and hold a range for a bit. This is a 50% retracement from the channel breakdown, which is exactly what we can expect of bull channel breakdowns. We could retrace to $111 and still be...