JamesBrown

JamesBrown

Fibs extensions are just as influential as fibs retracement levels, if not more. I use them all the time for predicting bottoms/ tops and I've observed over countless hours of studying charts that it's the X.618 (1.618, 2.618, 3.618, etc.) extensions that are typically where major trend reversal pivots occur. 1.618 is to fibs extensions what 0.618 is to fibs...

JamesBrown

The hourly prices are tracing out a megaphone pattern, complete with RSI/ price divergence. This could be the top. Watch the volume (SPY) on breakout. Description of megaphone pattern (broadening top) from http://www.trending123.com: "The creation of the pattern reflects a period of time when bulls and bears are battling to gain control of the stock. The...

JamesBrown Updated 

Price is currently sitting above (testing) a confluence zone between the median line of a longer term (macro) pitchfork and that of a short term (micro) pitchfork, both of which are slanted upwards (bullish). The macro PF was recently validated with a second median line touch a few days back (eventually busting through it, making it new support). The micro PF...

JamesBrown Updated 

If price closes above the Hagopian Line, it's likely that pivot 2 (p2 on the chart) level will be tested.

JamesBrown Updated 

It's been a long time since the last 400 SMA test for the S&P. It tried to test the 400 the last time that price dipped well into the 1 standard deviation band (for the 400 SMA), represented by the purple band closest to the dark purple line (400 SMA), but failed to touch it (came damn close, though). BTW, each colored band represents 1 more standard deviation...

JamesBrown Updated 

Things could get really interesting from here for the bulls, IMO. Price has set in 3 new highs out of the 200 SMA bollinger band squeeze breakout (black line is the 200 SMA; yellow shaded area represents the 2 SD bollies for the 200 SMA). Price has historically targeted the 200 SMA 30% channel envelope (the grey shaded area), hitting on 5 previous BB squeeze...

JamesBrown

The "Major" trend is up. The "Minor" uptrend within that Major uptrend looks extended and price has reacted to the 0.625 warning line (WL) by plunging below the median line, similar to how the bear market of 2008 started (look to it's pitchfork for comparison). It helps to zoom in closer to see the particulars. It's amazing how reactive prices are to these...

JamesBrown

Watch these levels for entry on the move up.

JamesBrown

30 minute downt-trend pitchfork. Pitchforks are strengthened the more times price comes back to test the median line (red line that's centered within the pitchfork). Price needs to close above the "hagopian line" to invalidate the pitchfork.

JamesBrown

I consider the 400 SMA (purple line on chart) the "trigger" moving average to go short. Price has come back to test the 400 a few times now and I believe it's about time that price breaks down to test its 1st bollinger band and then square root of 2 bollinger band (about 1.41 standard deviations), once that is broken the volitility will spike and short gains will...

JamesBrown

After reacting to the 1.5 fibs extension from the 1995 to 2000 bump and run pattern a few months back, putting in the current all time high, price is set to retrace and test some major levels. The RSI is also now in "give back" mode, and it could be set move all the way down to oversold levels, like the 2000 and 2008 bear markets.

JamesBrown

Short term, I expect a pull-back to the 2 standard deviation line (off of the 400 simple moving average), then a surge to test the 3 SD level, then a test of the 1 SD before a push much higher. This move isn't quite "parabolic" by my definition as it failed to penetrate into the white bands (between the 4th and 5th standard deviation levels), so this move may...

JamesBrown

Price has broken out of the 50 SMA Bollinger Bands to the upside and price is reacting favorably to a warning line (9th, if my memory isn't fail me) of an old pitchfork that formed before the price explosion past 1,000 USD.

JamesBrown

Putting it all on the line here...not that I have a whole lot to lose ;) This scenario of price and timing makes sense to me, given the price behavior, and all the dynamics of the chart coming together here at this level. Don't quote me on this and don't bet the farm on my prediction being right. I'm no expert. Just thought it'd be fun to throw this out here...

JamesBrown

This chart looks eerily similar to silver's monthly spot chart, to which I'm bullish on too. In both cases we had a "bump-and-run" pattern that slowly came down to the old trend-line off of the parabolic high. Obviously, bitcoin's case happened in a much shorter span of time, but the fundamental pattern is close to identical (take a look for yourself if you...

JamesBrown

Bear pennant forming. Confirmation should send this back to the low set a couple of weeks back.

JamesBrown

Target from the pennant hit...where now?

JamesBrown

RSI is oversold, "Willy" Vix is showing volatility, leg D of a Cipher pattern is about to complete. There's a good chance of a short term bounce in this range, IMO.