The S&P 500 has rejected highs. We have been calling this out for weeks. We appear to have a double top as well at 3825. It did find support at 3758, which is a technical and Fibonacci level, and now is finding support from 3793. The Kovach OBV does seem to be edging up, but nothing to suggest a breakout today. It could go either way at this point: to retest...
Litecoin is ranging after a gigantic selloff on the 11th. It has not retraced this selloff as well as some of the other cryptos. In fact, it is looking quite weak. Although it is ranging, establishing footing in the mid $100's, it odes appear to be forming a head and shoulders pattern. This is pretty ominous. Additionally, the Kovach OBV has registered an...
Ethereum is trending up in what appears to be a bull channel. These tend to break down so we may get lower prices soon. Overall, the crypto market is ranging and ETH is no different. It is healthy for the market to range after it has continuously established highs. The Kovach OBV has definitely leveled off and appears to be turning over. If you have any...
Bitcoin has consolidated in the upper $35K handle, testing $36K, which has proven to provide some resistance. The Kovach OBV has leveled off, which suggests it is comfortable in this range for now. It is in a sideways consolidation pattern, which is much needed after such explosive growth. It may range more, but will eventually break out. Watch for support at...
Litecoin is facing some resistance at $151, one of our Fibonacci levels. This is the 50% Fibonacci level based on the retracement from highs. This is a fairly significant Fibonacci level, so if Litecoin cannot muster more strength here, we can anticipate a further retrace. The levels $141, $130, and $117 will all provide support. It looks like we are forming a...
Ethereum looks like it is forming a bull flag. It has met resistance at $1211, one of our Fibonacci levels. Indeed, the apex of this bull flag is at this level exactly. The next major level from above is the relative high at $1347. From below we have support at $1105 and $1030. The Kovach OBV is relatively strong, but has flattened recently. This could...
Bitcoin had another rally, but it looks like it is running out of steam. It started rounding off right around the technical and psychological $40K level. We could see lower prices soon, and a great chance to get in on a long trade. If we dip further, $36.3 is the nearest technical level. Next we will have support at $34.7K, then $33.4K, but of which are...
Stocks dipped, but nowhere near to the extent we were anticipating. A 'healthy' correction would put us at 3758 or 3737. All we got was 3792. We still anticipate stocks to break out to achieve new highs sometime soon, perhaps even today. Though we are below 3792 at this point and this will provide resistance. The Kovach OBV is inching up, suggesting that we...
Litecoin is coming off of the corrective wave. It is not showing the momentum that ETH or BTC have exhibited, but litecoin rarely does. This is a nice bounce, but it is not showing the emphatic momentum of a breakout that we usually anticipate from cryptos. This is not a bad thing, because we need healthier growth to avert a bubble. Litecoin may dip again, but...
Ethereum has broken out from our corrective wave. It seems like $954 was the low, as we called out in the briefings. We just smashed $1105, and we seem to be having some trouble with $1150, which appears to be a technical level formed by highs and lows. Momentum has picked up, but it has not registered on the Kovach OBV. This suggests we may see another dip...
Bitcoin has broken out from the dragon head consolidation we pointed out a few days ago. It is currently facing resistance at $38.6K, which is one of our Fibonacci levels. This is perfectly reasonable. We may see another minor correction here, but the carnage should be over. If not, we will see support at $34K or $33K. Soon, we will hit $41K meeting highs...
Litecoin looks like it is consolidating further after the retracement it suffered with the rest of the crypto market. It looked like an inverse head and shoulders was forming, but this now looks to be a flag. Either way, it appears to be the fourth and final stage of the dragon head pattern, and we should see a breakout after this. The fourth stage is...
Ethereum has had some wild swings that could even rival that of Bitcoin. It dropped from highs at $1347 to below $1k, and has finally stabilized between $1030 and $1105. These are two Fibonacci levels that have proved to be very good levels of support and resistance depending on where ETH is at the moment. Like Bitcoin, we anticipate some ranging before the...
Bitcoin is caught between the low of that big dip and highs. It looks like it is in the fourth and final phase of the dragon head pattern (Ghostsquawk exclusive!). This is characterized by ranging after the volatility incurred with the correction. We are likely to see continued ranging until another burst of momentum which will constitute the first impulse in...
Stocks are ranging at highs. We do anticipate another run for ATH's soon, but it is highly likely we will see a retracement first. The levels 3758 and 3737 are great levels of support. The Kovach OBV has flat-lined, which suggests that momentum has run out. This is not a very good sign especially at highs. The S&P is stretched like a rubber band and will snap...
Stocks are ranging at highs, caught between all time highs, a technical level at 3825, and the nearest Fibonacci level, 3784. We are seeing some consolidation here as stocks find footing. Our target still remains 3856. Beware of some retracement first, even a 50% retracement would still be considered bullish. That would put us at 3726. There are several...
Bitcoin suffered a huge retracement from highs, bringing us down to the high $29K's from the $40K handle. This was quite a drop and it squeezed out a lot of weak hands, some of which had never experienced such a squeeze in crypto. This is normal for all cryptocurrencies especially Bitcoin and this is the type of thing you should always be prepared for. ...
Ethereum took a dive too, and like Bitcoin, it got immediately bought back up. It bounced from support at $954, and is currently in the $1100's. It is finding support right now at $1105, a Fibonacci level. If it catches another burst of momentum, the next target is $1211. But if it breaks lows again it could hit $862.