Deftsuo

Deftsuo Updated 

Taking a look at SPY here; we can see SPY has been putting in higher-low's ever since early April, and has been doing so along the 21 day EMA in purple. Price has respected the flat line of resistance along the 200 day EMA in light-blue around 293 or so. Looks like a textbook ascending triangle setup. Measured move of the ascending triangle could take SPY back up...

Deftsuo Updated 

-TSLA is in a very strong, parabolic uptrend. In my opinion, this stock has entered the Thrill/Euphoria phase of the market cycle. This is a good time to be cautious and evaluate the situation accordingly. Lots of indicators are suggesting this stock is very ahead of itself, and it is only a matter of time before the chickens come home to roost. TSLA is a not a...

Deftsuo Updated 

Taking a look at Facebook (FB), we can see it is currently getting sold off quiet viciously. However, there may an opportunity for a trade if price pulls back towards the 200 day MA in red which has served as an important support point twice in recent months. This 200 day MA in red may serve as a base as it has in the past. Just something to keep your eye on. 200...

Deftsuo

Taking a look at the XBT/USD chart here, we can see Bitcoin is currently on a small parabolic rise from 8.2k to 10.2k. However, I am going to present a potential scenario which I think would be overall quite healthy for the macro-trend and give better validation that BTC/USD is really poised for another cycle up to 20k, 30k, and so on. -Flashing back to...

Deftsuo

Taking a look at the weekly chart on Bitcoin, We can see several similarities between the current price action and the price action of 2018. 2017/2018: -Negative slope on the 20 week MA in Pink. -Based on the 100 week EMA in Tan before eventually breaking it as support which lead to a capitulation drop from 6k into the low 3k region. -Series of lower-high's on a...

Deftsuo

Taking a look at the current BTC structure on the daily time-frame, this to me looks like a classic market cycle. -We had the Disbelief rally back up to the 4k ceiling back in Feburary of 2019. -Followed by Hope as price was holding higher levels and consolidating under the 4k resistance. -Optimism then set in when 4k broke and price popped up the 5k...

Deftsuo Updated 

BTC/USD is currently forming a textbook bearish continuation right-angled broadening wedge pattern; and we are now in what would be the final push up (potentially toward 8400-8500) before an eventual break of the support zone around 7800/7900 with a measured move around the $7100 region; which is confluent with historical price action and in the vicinity of the 50...

Deftsuo Updated 

Apple (AAPL) is currently within a rising wedge formation; and the top of the wedge nearly coincides with the previous peak back between September and October of 2018. They also have some potential fundamental headwinds with the US/China trade tension, and the hype from their new Iphone and new apple products might begin to wane. The 225-230 level is proving to be...

Deftsuo Updated 

JPM currently has an ascending triangle forming the weekly, with a flat line of resistance around 118 and a rising line of support. Price is getting toward the end of the pattern here, and we had a bit of a false break-out into a decent sell down. However, price is still respecting the rising trend-line support and it had a decent buy-back before last weeks weekly...

Deftsuo

XLM/BTC, much like XRP/BTC, is currently trading above its 10 week moving average for the first time in months. With XRP/BTC looking pretty bullish on a weekly basis, XLM is likely to follow any rally higher by XRP as these 2 coins tend to move together. Also, for any crypto traders out there, Binance just launched their US exchange (Binance US.) If you need a...

Deftsuo

XRP/BTC is potentially setting up for another large rally. Price has reclaimed the 10 week moving average and is trading above it for the first time in nearly 9-10 months. Price has also tapped a historic price level around 2300 sat's that has been a key pivot point throughout XRP's history. I am keeping an eye on this one and it could be setting up for another...

Deftsuo Updated 

If you guys saw my other BTC post (link: ) then you would know I had been mentioning this distribution schematic for some time, and we have now broken below 9k giving it a lot more validation. We are now trading under 8750, and price is looking quite bearish. I think this 8k range might be just a temporary stopping point before we eventually head down into the 7k...

Deftsuo Updated 

Pretty clear cut. I have had this chart drawn for awhile and shared it around for the last few days/weeks. 3-4k was the accumulation point, 5-6k break was where the public entered, 13.9k was the blow off top, and we are now distributing before further downside price action in my opinion. Regardless of whether you're bullish or bearish , it is always wise to...

Deftsuo Updated 

TWTR is currently putting in what appears to be a double top. We saw a similar structure form back in 2014/2015 before Twitter headed lower. There is a possibility we may see that pattern repeat here. I am looking for a pull-back to some of the weekly moving averages. Also, for any crypto traders out there, Binance just launched their US exchange (Binance US.) If...

Deftsuo Updated 

Boeing (BA) recently had a bullish S/R flip on the daily on top of a prior resistance zone around the 375-380 region. There remains a gap in the price action around 415, so that might be a possible target area. I am also watching the 400 level. This company has had a lot of bad news and bad publicity around it for some time, and in that, there might be opportunity...

Deftsuo Updated 

Gold is currently forming what appears to be a bear flag formation on the daily. My other TradingView post on Gold was high-lighting a potential broadening top formation, but that has since been invalidated. On the daily chart, we can see there has been several attempts by Gold to push higher, but each attempt has been sold down resulting in some rather ugly daily...

Deftsuo Updated 

Amazon (AMZN) is currently forming a bear flag formation. Price has been consolidating along the 200 day moving average, with downward pressure from the 50 day moving average. Watch for a break below the 200 day moving average that I have colored in Red. If that happens, Amazon could return to the 1560-1620 support zone, as the measured move of the bear flag lands...

Deftsuo Updated 

Disney (DIS) is currently forming an H&S pattern, which is generally a topping formation pattern. Based on what I see, I think Disney could retrace down toward 117.50-120; as it would coincide with a gap in the price action (around 117.50 or so) and it would test a potential bullish S/R flip around that 120 zone that acted as resistance for awhile, as shown by the...