jpbrown1023

jpbrown1023

ENJUSD broke out of a 2.5 year pennant after hitting strong support and is continuing up. I love this long here.

jpbrown1023

Bitstamp has one of the longest weekly charts out there which really helps with this analysis. Going back to 2013, we can see that BTC maintained its price action within the ascending green channel. However in 2023 Bitcoin not only broke down out of that channel, but it had the first weekly Death Cross in its history! Even after this run to $38k, Bitcoin's 50MA...

jpbrown1023 Updated 

DOGE has a beautiful weekly chart that is breaking out of a 2.5 year pennant. I love the risk reward here. I'm long.

jpbrown1023

There is a lot of hype in the market right now as BTC touches $38k for the first time since April 2022. But if we zoom out on the monthly chart, there is an obvious bearish breakdown of the ascending channel we held since April of 2013. I find it hard to believe there will not be further pain to the downside as the price runs into the channel bottom (which is now...

jpbrown1023 Updated 

I know the sentiment of late has been very bullish on crypto especially with the Blackrock ETF on the horizon. They just resubmitted their ETF application to the SEC for review today and approval of this would very likely cause a crypto boom. However, the Total Crypto Market Cap is showing signs of weakness which is causing me to reassess our current situation....

jpbrown1023

My forecast for the DXY on the weekly. It's not good. Moving to precious metals and crypto for long term holds.

jpbrown1023 Updated 

After looking at the 4H BTCUSDT chart on Binance, I couldn't help but ask myself "where did all the volume go?" BTC is hitting a really significant resistance level after gaining 50% in a month. Given the lack of volume in April and the moderately higher high in price below that key resistance level, I think this may be distribution here and we could be in line to...

jpbrown1023 Updated 

Bitcoin had a massive rebound (almost 50%) following the failures of Silvergate, Signature, and Silicon Valley Bank. It's hard to believe given the lack of financial stability of some banks and the uncertainty in the markets that BTC would have such a big jump within a week, but technically speaking this move is very bullish. Considering this, I could see BTC...

jpbrown1023

MINAUSD nearly touched the .785 Fib retracement level after hitting a high of $1.23 in February. With the price at a 50% discount and bouncing off support, I'm going to load up here. This is a great project that I'm a big fan of.

jpbrown1023 Updated 

I'm watching the DXY carefully. It is long overdue for bounce since peaking in September. With the DXY threatening to spike and Bitcoin jumping 66% from the $15k lows to a key resistance level at $25k, it wouldn't surprise me to watch the DXY to run for a bit while Bitcoin retraces. Naturally it makes sense if the dollar index becomes stronger that every thing...

jpbrown1023

Looking at the tea leaves, it appears the price action is repeating the same pattern it did prior to the previous bull run. If we repeat the next bull run with the same growth, MATIC is poised to hit $100. Could history repeat itself? We'll see!

jpbrown1023

Taking a look at Bitcoin's price history, I noticed a repeating 9-step pattern that the current price action has been following since it peaked in 2017. The key points to take away from this is that the final point 9 ends around the height of the previous bull run (point 1). If BTC maintains a rate of growth decay (-5.5x its previous run) for its next bull run,...

jpbrown1023

Oh yeah! You're seeing that chart right. This looks like a great long entry to me, bouncing off two strong support levels and breaking out of a long-term trend. I'm long, really really long!

jpbrown1023

This is the second bullish fed announcement we have received within a week and yet, the price is exactly where it was before the first announcement. Having consolidated above $22k for almost 3 weeks now, I would have expected us to be much higher than exactly where we started. To make matters worse, you can see where the price action has not broken out of the blue...

jpbrown1023 Updated 

BSV was extremely volatile between 2019 - 2021. But starting in June of 2021 until today, volume and volatility really dwindled throughout the bear market. However over the past 6-8 months, volume has picked up and the price is slowly breaking out of an 18month falling wedge. Cue volatility! One piece of news that you cannot see in this chart is that Robinhood...

jpbrown1023

I'm watching the market cautiously at the moment. BTC is up almost 50% since its last low in December without even a 6% correction. We have had 5 consecutive higher highs, but the MACD has conversely made all consecutive lower highs. Taking a look a previous times this has happened in 2022, we had precipitous drops. Volume is also decreasing despite making higher...

jpbrown1023

BTC is in a good setup for a head and shoulders to the downside. The head and shoulders is a bearish pattern where the price bounces and returns to the "Neckline" support level the 3 times with the final return resulting in a break of neckline support. How to spot The easiest way to spot a head and shoulders is to find a support level that the price is...

jpbrown1023

This was a cool trick I learned a while back and I thought I would share. The Commodity Channel Index (CCI) is very similar to the Relative Strength Index (RSI), but the CCI tends to be more sensitive. As a result, the CCI tends to drop when there is weakness in comparison to the RSI and the divergence in the two indicators becomes evident. I've highlighted to...