Bitcoin has been on a rampage this weekend, crushing new highs and careening toward the psychological and technical level of $10K. There are strong technical and fundamental reasons why we should expect this strength to continue. First, we have BTC futures to be released on the CME which in the short term is a good thing (more on my long term outlook to follow...
Following the cryptocurrency rampage this weekend, Litecoin prepares to make new highs. The Kovach Momentum Indicators are solidly bullish, and it has solidly pressed the upper bound of the Kovach Reversals Indicator and is pressing onward, pushing past resistance from yesterday (as indicated by the red triangle). Trend lines show places of support, and we've...
Unless you completely unplugged this weekend, still drunk of tryptophan, you know that Bitcoin has continuously made new highs over the weekend. Even though the Altcoins have broken out as well, Bitcoin has overshadowed them. The altcoin index has retraced slightly from new highs, and the altcoin spread shows that Bitcoin has reclaimed the title, and is...
As I've just reported this morning, bitcoin has been on a rampage this weekend. The Altcoin Index has jumped significantly as well, but appears to be coming up for air. The Crypto Spread Indicator is still showing the balance is in favor of BTC, so if you are having FOMO, altcoins appear a better value at this point. If you have a position in BTC, consider...
Bitcoin has been on a rampage last weekend demolishing my hopes for a slight pullback to add to my position. Both Kovach Momentum Indicators are bullish, and it appears that we might be in wave 3 (the longest and strongest) of the impulse wave of a 5-3 Elliott Wave. Since we keep making new highs, it is difficult to project where we will hit any resistance, but...
We see a morning star pattern indicating a bit of a correction for the decline in the USD. This is confirmed by a green triangle in the Kovach Reversals Indicator. USDJPY has been pushing the lower bound of this indicator for some time, so a retracement was inevitable. Although we can expect this to continue, overall, a dovish Fed and weak US inflation data...
Ethereum is on fire today! It has broken out from the bull wedge pattern on daily charts, and appears to be gaining steam. It looks like we are in wave 3 of the impulse of a 5-3 Elliott Wave. Both Kovach Momentum Indicators are solidly bullish and we've been testing the upper bound of the Kovach Reversals Indicator for a while now. Consider taking profits or...
The FOMC minutes had an extremely dovish tone today. This will further boost the selloff in USD across all majors. Particularly notable is USDJPY, and EURUSD. Both Kovach Momentum Indicators are solidly bearish, and the price action continues to push the lower band of the Kovach Reversals Indicator. Sell any rallies in USD.
If you like the Kovach Momentum...
The FOMC minutes are being released as I write this, but weak inflation seems to one of their key concerns. Expect the yield curve to continue to flatten as this gets priced into the long end. The spread between the US 30 year and Us 2 year has been careening off a cliff lately and given this news, it is safe to expect this trend to continue. The Kovach Chande...
The yield curve (spread between the 30 year and 2 year spread) just broke below 1%. All indicators suggest this trend to continue. It has been encroaching the lower Bollinger Band of the Kovach Reversals Indicator, with no retracement in sight. A retracement will be confirmed by a green triangle, if an when it happens. The Federal reserve should be very ...
The S&P appears to be testing highs this morning, looking real strong for the opening bell. It is testing the upper Bollinger Band of the Kovach Reversals Indicator. This could lead to a slight retracement, which will be confirmed by a red triangle by the indicator. The Kovach Momentum Indicators all look strong. At this point, stocks are unstoppable, buy on...
Bitcoin has established hew highs, and although it seems like it is facing some resistance, appears to be poised to pounce higher. The Altcoin index has picked up, as anticipated, but is consolidating into a triangle pattern and appears also to be ready for another breakout. Ethereum and Litecoin have broken out and are facing some resistance at the upper...
As Bitcoin hurdles past $8000 making new highs and then some, the question is where to invest? It seems inevitable that Bitcoin will pull back, while recent gains in Ethereum, Neo, IOTA, and Litecoin have seemed paltry in comparison to BTC, indicating these might still be in a value area.
The altcoin index has recovered from a brief pullback. This could be the...
Bitcoin has been on a tear for more than a week, first retracing its Segwit2x fallout and then some. Both Kovach Momentum Indicators are solidly bullish, indicating that now might be a time to take some profits, but we are solidly pushing against the upper Bollinger Band of the Kovach Reversals indicator. Be patient for a pullback to add to a position.
It...
The momentum and volatility in stocks has subsided for the moment due to geopolitical risks, in particular political uncertainty in the US. This would be a good range trading day, if that's your thing. The Kovach Momentum indicators have basically flatlined and the Reversals indicator has pointed out some nice entry points (shown with green triangles) for mean...
The yield curve struggles to come up for air as it hurdles toward zero. The slope of the trend is clearly decreasing, indicating that the flattening is accelerating. We've tested the lower bound of the Bollinger Band without a relief rally which is a very bearish sign. Also the Kovach Chande indicator is bearish and appears to be increasingly more so.
If you...
As investors price in lower inflation and increased expectations for a Fed rate hike, the yield curve (between the 30 year bond and the two year note) is continuously making new lows. Typically, the flattening or steepening of the yield curve is led by one end, but in this case, both appear to be contributing equally. This presents a problem for the Fed as...
As Bitcoin seals its reputation as the king crypto from Bitcoin Cash, we can expect this bull rally to continue. However the doji forming on today's candle could be indicative of a further pullback. Any pullback at this point should be seen as a buying opportunity. Kovach momentum indicators are both bullish, and indicate strong buying sentiment regardless of...
