Both Bitcoin and the Altcoin Index have fallen substantially, indicating a somewhat rare flight to fiat. This is reflected by the Crypto Spread Indicator, which is hovering around parity, though tilting somewhat in the favour of Altcoins. Although we are seeing a brief technical relief rally in both, it might be wise to wait for more buying volume before...
Litecoin still appears to be in the corrective phase of the 5-3 Elliott Wave. This should be completed once LTC breaks past $293. Two very bearish red candles seems daunting with respect to today’s impish bull candle, which further supports this case. The Kovach OBV is still bullish, but the Kovach Chande remains in decline showing us that short term momentum...
IOTA has continued its breakout from the dragon head pattern, though retraced slightly. This appears to mark the entry into the second segment of a new impulse wave. We could anticipate some pullback, to $4.37, where we have support from a Fibonacci Level, or to $4.20, where we have some support from the central moving average of the KRI. Either of these would be...
Neo has been more stubborn than other coins. While others have retraced significantly, Neo has maintained its range in the $70 handle. In fact, we do see some consolidation into a bull flag pattern, so a bull breakout is not out of the question. The Kovach Momentum indicators are still bullish, which supports this case as it suggests that Neo is coiling up. ...
Ripple has broken out from the dragon head pattern forming the fifth segment of the 5-3 Elliott Wave once it reached new highs. The Kovach Momentum Indicators have picked up to reflect this breakout and we are once again testing the upper bound of the KRI. Anticipate some retracement as we enter the corrective phase. Interested in the Altcoin Index and the...
Bitcoin Cash has continued its rally, pulling back only slightly to join IOTA in entering the second phase of the impulse wave. It is a banality at this point to mention that we have been pushing the upper bound of the KRI during this breakout, and a red triangle marks a brief retracement, that should portend a possible buying opportunity especially if BCH...
Ethereum Classic is chugging along, making consistent gains, though it does not seem to exhibit the massive momentum that other coins have delivered. We appear to be in the fifth phase of the impulse wave, which augurs a retracement. This should be considered a buying opportunity. If we breakout again and make new highs, we must reconsider our wave...
Litecoin joins the ranks of Cryptos currently in the corrective phase of the Elliott Wave. This is confirmed by a bearish Kovach Chande Indicator, though the Kovach OBV still confirms long term momentum is bullish. LTC has been pressing the upper bound of the KRI since early in December, so a rejection was inevitable. We are currently hovering around $320, but...
As noted yesterday in our newsletter, IOTA was indeed coiling up for another breakout as it rejected the central moving average of the KRI, and broke out from the dragon head pattern, testing the upper bound of the KRI before letting up steam. It seems IOTA is a bit ahead of the other Altcoins in terms of the Elliott Wave. It appears to have completed the...
Bitcoin Cash has broken out yet again crushing all-time highs at $2800, hitting nearly $3700 before retracing. We can thank the popular platform Coinbase for this push, which is the largest venue for Crypto investors. We’ve had to re-center nested Fibonacci levels to account for this rally, and currently BCH is hovering around $3250, a strong level of support. ...
Ethereum Classic is the only other Altcoin on this list besides BCH which has maintained its bull momentum, consistently testing the upper bound of the KRI. Long wicks on the candles do suggest some ambivalence, and the red triangle on the upper bound of the KRI marks a rejection pattern yesterday. But otherwise, the Kovach OBV is still strong, and the Kovach...
Bitcoin has pulled back from highs, dipping into the upper $15K handle which marks the corrective phase of the Elliott Wave. Although many Altcoins also appear to be in the same cycle, as investors appear to be taking profits, some notable exceptions, including Bitcoin Cash and Ethereum Classic have driven up the index, which is confirmed by the Altcoin Spread,...
ETC has continued to face resistance against its attempt to breakout from the dragon head pattern discussed previously. Although it has briefly made new highs at the psychological $34 level, it seems to be facing increased resistance at the upper bound of the KRI at $32.75 or so. We may see some further consolidation, but the red triangle on the KRI indicates a...
IOTA has consolidated around the psychological $4 level, as it clarified news about a partnership with Microsoft yesterday. While some retracement was likely, we will see how much investors weigh the relationship with Microsoft as IOTA either breaks out from this dragon head pattern or retraces further. The next level of support is a Fibonacci level of...
Neo has continued its breakout making new highs at $54.70, which is the anchor of the Fibonacci Fan level. It has continuously tested the upper bound of the KRI, indicating that some pullback is near but the bull candles seem to be growing in strength. We have strong support at $45, which is a Fibonacci Fan level and the base of today’s candle. If you enjoy...
The Altcoin index has regained momentum and shot forth from its pullback yesterday. The crypto spread indicator still suggests that altcoins are in control, though as several major players have pulled back or consolidated, this lead is narrowing. As Bitcoin faces some (likely short-lived) ambivalence at highs, further retracement should definitely be considered...
Although LTC has broken new highs again at the psychological level of $350, it has faced a sharp pullback to $286 at the time of this writing and has retraced all of these gains. We are likely to see more pullback and consolidation at this point into a dragon head pattern, as LTC acclimates to its new heights. If we see a retracement we will likely find support...
LTC has continued its breakout with momentum that seems to challenge IOTA’s run weeks earlier. It has demolished technical and psychological levels, finally finding some resistance around new highs in the $300 handle. We are likely to see consolidation and retracement, at some point, into a dragon head pattern before another breakout. The nested Fibonacci...