Bitcoin is edging up, but is still bounded by $22K or so. We have a strong level at $22.4K, but we can't even muster the strength to test this. We did see strong support around $20K, so it does not seem like BTC is weak enough to test the $18K's or $19K's and establish the range we held when we tested lows. However, the Kovach OBV is still bearish, so we have a...
The US dollar has stalled at highs at 109.30 or so. We saw great resistance here, as we anticipated, but have found support around 108.50, a strong technical level. Green triangles on the KRI confirm support here. The markets will likely be quiet until the Fed's Jerome Powell speaks at 10AM EST at the Jackson Hole retreat. If he sounds hawkish, we could make a...
Stocks pivoted from 4122, where we saw strong support from green triangles on the KRI. Subsequently, we were able to pivot and made a run for higher levels. We have broken past 4188, the exact level we called out as a target yesterday. The Kovach OBV has picked up, but we will likely not see too much action until the Fed's Jerome Powell speaks at the Jackson...
Litecoin has found support in the low $50's and pivoted back up past $55.84. We are currently finding great support here, but facing resistance immediately above at about $58 or so. If we can break out then $61.75 is the next target. If we reject current levels then $51.92 and $50.64 should provide support.
Ethereum found support at $1547, as we anticipated. We saw a lot of green triangles from the KRI on this level, confirming support. Subsequently, we pivoted back to the $1600's where we first saw resistance from $1653. There is a cluster of levels above that should provide resistance, and we are currently in the thicket of them. These start at $1694 and end at...
Bitcoin is edging up forming a bull wedge pattern with an upper bound of $21.7K. We are seeing lots of red triangles on the KRI to confirm resistance, but if we can break through the next target is $22.4K. The Kovach OBV is pretty flaccid if not slightly bearish, so there is a slight bear divergence. We should have support at $20.7K, but if not there is a...
As predicted yesterday, the S&P 500 found support at a critical level of 4122. We then saw a nice pivot back up to 4178, where we are currently seeing resistance confirmed by red triangles on the KRI. If we can break through, then 4188 and 4214 are the next targets. If we reject current levels, then we are sure to find support again at 4122. Watch the vacuum...
Litecoin appeared to making an attempt to regain the $60's, but has fallen short around $58, just above our level at $55.84. We are seeing strong resistance confirmed by red triangles on the KRI, but if we can break through then $61.75 should be the next target. If $55.84 does not hold, then we should see support from the low $50's at $51.92 and $50.64 in particular.
Ethereum has found support, bouncing off our level at $1547. We saw mounting support from green triangles on the KRI, but the $1600's are proving tough to break through. Our level at $1653 seems to be a barrier for now. Recall that this is the beginning of a cluster of levels which extend through the mid $1700's. We will need some strong buying momentum to...
Bitcoin has stabilized in the low $20K's, seemingly unfazed by dollar strength and a bearish stock market. We have been testing $20.7K, but green triangles on the KRI are confirming support. We are seeing little buying interest and cannot even muster the strength to test the next level at $22.4K. In particular, $21.6K seems to be a barrier for now. If we break...
Oil has rebounded into the $90's after establishing a solid value area in the high $80's. It seemed like prices were finally coming down, when we saw a nice spike back to the $90's, reestablishing value above $92.03. We are currently testing $95.24, but a red triangle on the KRI may indicate that we are running into resistance. If we can break through then the...
The S&P 500 has faced a relentless selloff, with Fed expectations, troubles in Europe, and high inflation continuing to impact the economy. We have broken through all support levels in the 4100's, except for 4122, the last level before the vacuum zone below. After that, there is a vacuum zone to 4068, then 4009. The Kovach OBV does seem to have picked up a bit...
Litecoin found support in the low $50's and subsequently pivoted, making a concerted attempt at higher levels. Currently, we are contending with $55.84, seeing strong resistance from multiple red triangles on the KRI. If we can break past this, then the next target is $61.75, if we can cross the vacuum zone above. If not, then we should see further support in...
Ethereum has held its ground, finding support at $1547, as anticipated. Support is confirmed by multiple green triangles on the KRI. The Kovach OBV is still quite bearish, but does appear to be attempting to level off as the bleeding eases. A strong US dollar and hawkish Fed outlook should continue to weigh on crypto, but if the $1500's can hold, then $1653 is...
Bitcoin has found support at $20.7K, confirmed by multiple green triangles on the KRI, despite an increase in the strength of the US dollar. The Kovach OBV is still bearish however, and if support caves, we will return to the value area between $18.6K and $20.7K. If we are able to pivot then the next target is $23.9K. But we are seeing strong resistance in...
Stocks have continued to tumble, testing lower levels in the 4100's. We have plummeted past 4188, and are testing 4122 at the time of this writing, which is the last level in the 4100's. If this does not hold, there is a vacuum zone below to 4068, then 4009. Support seems to be holding for now, confirmed by green triangles on the KRI. The Kovach OBV seems to...
Litecoin has fallen, giving up the $60's, but finding support in the $50's. We are currently finding support at the base of the $50 handle, with two strong levels at $51.92 and $50.64. These are likely to hold as a floor price for now, but if we break down further, then $45.48 is the next target. If we can pivot, then $55.84 is the next target above, which we...
Strength in the US dollar and more hawkish Fed outlook has impacted the crypto market. Bitcoin has plummeted from relative highs around $25K back to support at $20.7K. We are currently seeing strong support at this level confirmed by green triangles on the KRI. But we are unable to muster the strength for a pivot at this time. If we do, then $23.9K is the next...