jpbrown1023

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...

jpbrown1023

MATICBTC broke out to the upside of its 18 month channel and is confirming support above it. If we get a strong move to the upside, we may have a repeat of 2021. I'm long here.

jpbrown1023

You will be hard-pressed to find a more bullish USD alt chart out there. Tron has a beautiful bullish continuation structure here on the daily that has been forming since the COVID crash in March of 2020. This massive pennant the price action has bouncing within is almost 2 years in the making. I think the breakout here could be huge. The price action is currently...

jpbrown1023

I like this long entry here. Looking at the daily chart, you can see that the price has fallen over 90% from its all-time high and is finding support from 2021 resistance levels. The daily MACD has turned bullish and crossed the zero-line. Given the large retracement and strong demand zone here, I think this is a good risk reward entry. I'm long here, but if you...

jpbrown1023

Looking at the weekly chart, we can see that BTC hit the .786 retracement level as it bounces off support. BItcoin hasn't seen these lows since 2020 and capital is leaving the crypto market at a rapid pace. Understandably so as we still don't know the full extent of the damage FTX's bankruptcy, and Genesis/DCG insolvency situation that is currently catching...

jpbrown1023

Keep your eyes on Tron. TRONUSDT is closing in on the end of a massive pennant on its daily chart as is its TRXBTC trading pair. The daily MACD is bullish, breaking above the zero line. I think the only thing that ruins this party is if the DXY continues its upward trend and pushes BTC and the crypto market lower. My eyes will be on the DXY for a breakdown or...

jpbrown1023 Updated 

This is an analysis of Bitcoin's price action before and after Fed announcements on the daily time frame and the affect the US Dollar index has had on the markets. Since Bitcoin hit its all-time high in November 2021, the growing strength of the US Dollar has put a relentless downward pressure on global markets and currencies (and Bitcoin/Dow Jones/Precious Metals...

jpbrown1023 Updated 

Take a look at YFI. We have a great setup on the daily here after that bearish breakdown in June. YFI not only broke above the long-term downtrend in blue, but it's flagging above support. I love this setup for continuation to the upside. I'm long here.

jpbrown1023

If you missed the rise of SHIB the first time, here's your chance to get in on the bottom floor. SHIB is bouncing off a level it hasn't seen since before its meteoric rise back in October of last year. Breaking out of a falling wedge above this support level makes this a great entry for the next up leg in my book. I'm long.

jpbrown1023

After the CPI Report was released this morning, everything dumped. However, BTC fully recovered back above support within the bear flag. Most trader sentiment is short and given the oversold conditions, this makes for an ideal contrarian long play until the Fed announcement on July 26th. I have three price areas that I am targeting. TP 1: $23,000 - top of the...

jpbrown1023 Updated 

Taking a look at the weekly chart for BTC, you can see that Bitcoin is hitting a confluence of support from 1) the 2017 all-time high and 2) long-term uptrend originating from Jan 2015. We are also repeating the same price action fractal from 2017-2020. If this support holds, this could be the ideal entry point for the next bull run. However, a breach of this...

jpbrown1023

XRPBTC is testing a long-term resistance trend going back to its January 2018 high. Getting past resistance here would most likely lead to a very high volume breakout. Its daily RSI is currently at 70 which is very bullish territory. As long as BTC can find support here, we should see fireworks. Failure to breakout might mean XRP will revisit the bottom of the...

jpbrown1023 Updated 

I really like what I see on ADA's BTC chart. There are a lot of reasons to be bullish: 1) Bullish breakout of the purple falling wedge 2) Breaking back above very strong, long-term support 3) Breaking 60 on the daily RSI 4) Breaking above the zero line on the daily MACD I'm long here

jpbrown1023

Tron's stablecoin USDD has lost its peg and despite the $5bil of reserve cash used to prop it back up, it continues to fall further and further from $1. Tron mimicked the Terra Luna UST model and implemented their own stablecoin just days before the UST Luna collapse. If Tron is unable to re-establish the 1:1 peg, it's fate might be the same as Luna's. This is my...

jpbrown1023 Updated 

Here's a short-term scalp opportunity I'm taking on ETH. This is a terrible looking chart, but ETH is down over 50% since its April high without a single bounce. It's hitting a pretty strong support area around $1800. I think we have at least a short-term rally before the Fed's announce in June which will likely be to raise rates again. This will probably lead to...

jpbrown1023

This is a very simple chart. XRP has been flagging since its high in May. A nice 7 months of consolidation before the next move up. The daily MACD is showing a bullish cross over the signal line. It looks like all systems are a go once this breaks out. And when XRP takes off, you will want to be on this flight. I have already boarded and strapped myself in ;) ...