Litecoin appears to be in the final stages of a dragon head pattern as well. It has grown a lot more modestly than Bitcoin or Ethereum which have absolutely exploded. This makes it slightly less risky, since there are not these oceans of vacuum zones below to serve as targets when volatility picks up. This is a great long term hold, and it is still affordable...
We warned you stocks would face resistance at highs and a retracement was likely. But we admit that we didn't anticipate the extent of the fallout here. The S&P blasted through the levels we have identified, at 3737 and 3714, and then a few more before finally finding support at 3665, a Fibonacci level. The Kovach OBV has registered this dip and verifies how...
Litecoin had a correction, though nowhere near to the extent of Bitcoin and Ethereum. Litecoin has been chugging along recently, and out of the limelight stolen by Bitcoin and more recently, Ethereum. This is a strong contender, and a personal favorite. We view $140 as a buying opportunity. It has strong support here, but if this fails, $135 and $132 should...
Ethereum blasted past $1000, which is a very substantial technical and psychological level. At that point, it then ascended further to $1160 or so (right before our Fibonacci extension level) before finally petering out and retracing hard. These types of retracements are very common in crypto especially when cryptos are in bull mode. It did seem to find support...
Bitcoin had more than a 10% correction this morning, from ATH's at $34.45K down to $28.4K. There was support here at a Fibonacci level, which is actually the upper anchor of one of our nested Fibonacci's. The bubble has not burst yet, this is just a healthy correction from such a prolific rally. We are likely at the end of the corrective phase of the 5-3...
Stocks made new highs, which is a great way to start the new year. Unfortunately, the Kovach OBV is somewhat bearish, oscillatory at best, so it would be best to exercise caution here. Let's see what happens more toward open. If there is continued momentum, we can push further. Use the Kovach Momentum indicator to measure this with respect to the open of...
Ethereum blasted through the extremely significant $1K level. In true crypto style it did so on a Sunday night. This was subtly lagging bitcoin and out of the limelight, giving crypto enthusiasts plenty of time to accumulate a position. The Kovach OBV is extremely strong here. Like bitcoin, any dip should be considered a buying opportunity at this point. The...
Bitcoin has validated our predictions quite well. We noted $28.9K was a nice price target, based on our Fibonacci extension levels. It hit that exact price yesterday. Now it seems like it is coming up for air. The Kovach OBV is strong, but has levelled off in the last few bars, suggesting that we may be at a comfortable top for the time being. At this point,...
Stocks retraced exactly when we said they would, finding support at the level we identified. The S&P still may retrace further and be considered 'bullish'. The extremely bullish can consider this a buying opportunity. The more conservative bulls may wait for a nicer pullback, to 3714 or 3694. The Kovach OBV has slumped, so we may see a nicer correction soon. ...
Bitcoin continues its meteoric rise against the dollar (as most dollar denominated assets are right now). Any dip should be considered a buying opportunity. There is increasing adoption, and the Ripple issue with the SEC is only fueling Bitcoin's ascent as people are selling out of Ripple into BTC. The next target is a Fibonacci extension at about $29K, then we...
We finally did see a little dip in stocks, but nothing terribly significant. Unless there is some breaking news on stimulus, vaccines or some other world event, the S&P should range about current levels. The level 3758 is significant at new all time highs, and its doubtful we will have the strength to break this, barring some new event. The sideways correction...
Bitcoin is holding strong in the $27K handle. It looks like it has found a double bottom at $26.2K, twice finding support here. BTC appears to be in the final stages of a dragon head pattern and is looking to break higher. All fundamental factors point to higher values: increasing adoption, big money pouring in, and even nods from regulators world wide. We can...
Stocks have made new highs, yet again. We anticipated a retracement, and still feel one is due. At this point, 3737 will provide support. The next level of support will be 3714. The Kovach OBV has been trending up but it does not look quite as strong as other times when stocks have rallied. There is no reason to be fearful of a bear market yet, but certainly...
Bitcoin has broken all time highs several times since our last report. Our Fibonacci extensions are excellent in predicting its price targets. Currently, we are caught between some nested Fibonacci levels. It is likely to range here for a bit as it finds footing between $26.2K and $27.8K. It is consolidating in a dragon head pattern, which is a Ghostsquawk...
The S&P 500 has tested highs again. At this time, it is not likely to muster the strength to bust through to new highs, at least without testing lower levels first. It is unlikely we will see any significant retracements due to the time of the year, but we are also unlikely to see an emphatic breakout either. Watch for it to reject highs at 3737 and bounce...
Stocks retraced every point of the Coronavirus 2.0 panic selloff. They've returned to support at 3694. The level 3714 will provide extreme resistance. Due to the holidays approaching, we can expect the S&P to feel out the range from 3676 to 3714. The Kovach OBV has registered the momentum from the buyback. We are very unlikely to see another sell off like...
Stocks got smashed, in an apparent channel breakdown. We mentioned that this may come due to the unwillingness of the S&P to break out of this pattern, and how it was hugging the lower bound of the channel, but unable to do much more than that. We have retraced about 50% of the channel height, which is a pretty good target. We hit 3617 and retraced to 3660. It...
Stocks have edged upwards. They are ping ponging between the lower bound trend line of the channel pattern, and 3714, which is a very significant level. It has provided resistance in the past, now it provides support. Until the S&P can definitively break this trend line, we are skeptical of the rally. Avoid fomo at this point and aim for a good dip to enter. ...