Ethereum has blasted through various psychological and technical levels to solidify its grasp on the $700 handle. It seems to be gaining steam at this point, which clearly constitutes wave 3, the longest and strongest of a 5-3 Elliott Impulse Wave. It is difficult to determine when ETH will find resistance, as it has smashed all profit targets besides Fibonacci...
Ripple is another Altcoin that just hasn’t gotten the memo lately. It remains bound from below by the anchor line of the Fibonacci Fan at $0.208, which has continued to faithfully provide support, though the 0.75 level provides resistance at $0.254. We appear to be forming a massive bull wedge pattern beginning in August. If history serves as a good indicator,...
Litecoin has finally seen a much-anticipated breakout with strong momentum that has lasted for several days despite pausing for air yesterday. We appear to have entered the next cycle of the impulse of a 5-3 Elliott Wave, confirmed by several long green candles. We’ve continued to break into new highs, and what was once a price target of $138.50 now provides...
As Bitcoin solidly enters another rally, Altcoins seem paltry by comparison. Although the Altcoin index has made a slight uptick, it seems to be forming a wedge pattern which indicates consolidation and preparation for another breakout. The double top discussed numerous times in previous commentary should continue to provide resistance. The Crypto Spread...
At this point, Neo seems to be reminiscent of the children's book with the train who kept iterating "I think I can! I think I can!". It keeps chugging along, maintaining lackluster, but some consistent gains despite other altcoins having numerous breakouts since. Although the Kovach momentum Indicators are still bullish, they do seem to be waning. The 0.5...
Bitcoin has solidly rocketed ahead of the rest of the altcoins, which have either retraced substantially or are at best consolidating. The Altcoin index has pulled back substantially and what was a bull wedge pattern forming has begun to look like a double top which is foreboding. The Kovach Crypto Spread Indicator has remained in positive territory for some time...
Although Bitcoin has broken out yet again with strong momentum, the Altcoin index has pulled back slightly and appears to be forming a bull wedge pattern. Altcoins are still in bull-mode as even with this slight pullback we retrain higher lows. The Kovach Crypto Spread Indicator has confirmed that Bitcoin has solidly regained its lead against the Altcoins,...
A slight pullback in LTC has continued at highs as it faces resistance from the upper bound of the KRI. Both momentum indicators are still positive indicating momentum is strong despite some pullback. The Kovach Chande has pulled back a bit more indicating possibly indicating a place to add to a position. This recent pullback has seen support levels from below...
While Bitcoin Cash has seen nowhere near the momentum as some of the other altcoins, there are various technical indications that it may be winding up for a breakout. For example, we have been seeing higher highs and higher lows, which is a strong indication of a bull trend. Further, the key level of $1724 forged by relative highs coinciding with a Fibonacci...
A slight pullback in LTC is observed at highs as it faces resistance from the upper bound of the KRI. Both momentum indicators are positive indicating momentum is strong despite some pullback. We have strong levels of support at $102, $100, and if we face a major pullback, at $89 and $87. Good profit targets include Fibonacci Extensions and Nested Fibonacci...
IOTA seems unstoppable at this point, careening through the $1 and $2 handle, smashing through psychological and technical levels of resistance from above. It cut through the $3 handle with ease, and it is hard to fight the urge to chase this altcoin. Any dip should be seen as ripe for entry at this point, though one should consider taking some profits from this...
IOTA has made incredible strides by more than doubling in value since the end of November. Currently it is facing some resistance at all-time highs, which correspond with the Fibonacci Fan at the 0.382 level. Further momentum is anticipated although we must see retracement and consolidation at some point. Check out the Kovach Indicators here !
Ethereum classic has regained momentum and is making an effort to test and break all-time highs again. It is consolidating at the moment, in the all too familiar dragon head pattern indicative of a cryptocurrency winding up for another push. We are pushing up against the upper bound of the KRI, which indicates that some consolidation or pullback may continue in...
Both the Altcoin Index and Bitcoin have broken out and sustained momentum, though Bitcoin has solidly maintained the lead. This is evidenced by the fact that the Crypto Spread is positive and has been so for the past several days, although it does appear to be wavering. This should serve as an indication that Altcoins are more competitively priced at this point,...
Both the Altcoin Index and Bitcoin have faced resistance while trying to break new highs. Of course, this could be weekend doldrums, but from experience, liquidity actually picks up for cryptos in off-market hours. The Kovach Crypto Spread is roughly even, though tilted to Bitcoin's favor as the Altcoins appear to be hit just a bit harder. Consider this as a...
In a previous post, I discussed using a Fibonacci Fan to predict some levels the S&P might seek if and when we do see a correction. To make it clear, I'm not bearish on stocks. Eventually, we'll see a correction, and it'll be 'YUGE', but I doubt it'll happen any time soon. The reason I've posted this is to show you new traders that if you're doing it properly,...
Although I don't think the stock bubble is anywhere close to popping, I've used a Fibonacci Fan to draw some ideas for retracement if and when it does. I've used a Fibonacci Fan because it seems to capture the stock market's meteoric rise in between the 0.618 and 0.75 levels, even on Black Monday 2015 when Chinese PMI came in catastrophically below expectations...
Although the fake news would have you believe that the Eurozone is fast on its way to recovery, it is still mired with issues and the failed Euro is taking its toll on German yields. There is still geopolitical tension, a migrant crisis, and a huge stagnation in inflation that extends to the entire developed world. The Kovach Chande is incredibly bearish and we...