Ethereum made new highs then swiftly retreated. It is a bit extended right now, having crossed $1035 to $1430 since Thursday. We can anticipate further resistance at highs, and perhaps for a consolidation pattern to form (such as a bull wedge or flag) before another breakout. We could see up to a 50% retracement of this month's range, which would bring us to...
Bitcoin has been maintaining the $30K range for some time now. It is healthy for BTC to take a pause, since we were getting dangerously close to bubble territory. It really does not want to test the $20K's again, as any attempt at those levels gets bought back really quickly. Currently, we appear to have finished the corrective phase of the Elliott Wave wave,...
Stocks are ranging between 3825 and 3867. These are both levels identified by us, in addition to the ranging. Since it is Monday, we are unlikely to see any significant moves, so anticipate the ranging to continue, but we will know more details towards the open. The next target is 3887. We should easily hit this with another burst of momentum. If we retrace,...
Litecoin validated our analysis yesterday. We called a dip to 124 or 111, and we caught support exactly at 124. Right now, we are facing resistance at 138. It could really go either way at this point. Longer term, we are bullish of LTC, but there is a possibility that the bear momentum is not finished. If so we will find support at 111. It is doubtful LTC...
Ethereum broke hard from the trendline but has since reclaimed most of the move. ETH caught support from 1035, which is one of our Fibonacci levels. Currently it is facing resistance at 1233. We are seeing a red triangle on the Kovach Reversals indicator suggesting we may equilibrate in 1035 to 1233 range before another breakout. If so, 1111 will provide...
Bitcoin has extended its decline, briefly testing the $20K handle, but swiftly rejecting $29K, and reclaiming $30K. Broadly, it appears that BTC has extended the corrective phase of its 5-3 Elliott Wave. If we are correct, we should see another burst of momentum soon. Watch for a blast of momentum to take us back to $36K. However, if our Elliott Wave is...
As we told you yesterday in the reports, stocks retraced to 3825. This is a strong level of support. Both Kovach Momentum indicators are solidly bearish, leading us to think the pendulum may swing back soon. Additionally there is a cluster of green triangles on the Kovach Reversals indicating that we are seeing some candlestick reversal patterns. If we do see...
Ethereum broke our trend line and is testing lower levels. We have drawn some new Fibonacci levels to anticipate support. Eth is currently sitting at support around 1233, a Fibonacci level. It is reasonable that it should retrace to the 50% Fib level at 1172. We should find support there. Otherwise, we have some nested fibonacci levels around 1111, and 1035. ...
We are seeing a bull channel breakdown in Litecoin. These typically retrace 50% of the channel height at least, and we are already testing the 0.382 Fibonacci level. If it continues to dip watch 124 and 111 for support. The Kovach OBV has been pretty flat lately, which does not bode well for LTC. Litecoin is still a great project so use lower levels as a...
Bitcoin has broken down from the channel pattern it was following for the past few days. It tested our support level of $34K, briefly finding support there before breaking down further. It appears to now be finding support at $30K. This level is likely to hold and we should see a bounce soon. If not, the lower anchor of our Fibonacci levels at $28.5K will...
As you all are undoubtedly aware, stocks made new highs yesterday. They met resistance exactly at 3856, the level we called out for weeks. Finally they inched past this level to 3867, where they are currently facing resistance. Almost certainly they will break out higher. They could range to feel out this new price territory first, however, so don't get too...
Litecoin has retraced sharply. It seems to be caught in a bull channel pattern. Bear in mind that these tend to break down, not up. Litecoin has retraced more than ETH or BTC, and still has a long way to go before making new highs. If it breaks down further consider $141, $130, and $117 as buying opportunities.
Ethereum seems to be retracing quite a bit from all time highs. It is currently flirting with support from a trend line. On a broader scale, we could be forming the first leg of the next 5-3 Elliott Wave. It is also the case that we could be forming a sideways corrective phase. Time will tell, and how ETH behaves moving forward will be very telling. Watch for...
Bitcoin has been trending down. It received a significant shakeout which took us to the exact level I called out in the last report: $34.7K. It is highly doubtful the bubble is about to burst yet. Recognize that in the long run this behavior is simply a ranging after a tremendous appreciation. As long as we remain north of $30K, BTC will still be considered...
Stocks bounced pretty hard off lower levels, but are still having issues making new highs. The level 3758 provided support as we said it would. We blasted through the next level 3792, which provided little resistance. It will provide support now. We should expect more resistance at all time highs. It will take a lot of momentum to break through and establish...
Litecoin has broken out from its ranging, but not to the extent of Ethereum. It still has quite a way to go before new highs, or before it even matches relative highs. Currently, it is facing resistance from a Fibonacci level at 167. We are likely to have some troubles with this level and may retrace back down to find support at the next level at 151. After...
Ethereum has broken out higher after ranging for several days. It has finally achieved all time highs, barely breaking its 2017 high of 1424. At this point it looks like it's going to keep ripping and our next target is a nested Fibonacci level at 1577. This appears to be the beginning of the next impulse wave in another 5-3 Elliott Wave. We are soon to have...
Bitcoin has been ranging but is forming a bull wedge pattern. The upper bound of the bull wedge pattern is $37.7K. Ideally, we would have a solid uptrend to give us confidence in a breakout but the Kovach OBV is very strong here suggesting a bottling up of momentum ready to break out. There is a vacuum zone to highs, with a brief stop at $40K which is now a...