Hello from CFT (our video is out!),
BTC, Early last week, we had a buy signal in the stock market. We thought Bitcoin would make this low for the “w-x-y” as we show in green, which completes the wave “c” red wave 4 triangle, and so far, that did happen. Our stock indicators are still looking a little bit higher, so we think Bitcoin could still move a little bit higher here. We are still leaning with this count that we are working sideways, and we will stay with that until we see an overbought reading on our Bitcoin. So again, higher with stocks, and should be a good year, we could have just experienced the lows of the year.
On U.S. stocks, As we just said, we believe we made a low last Monday; we tested the low Friday. We still look for higher here, and new highs for the move, and a few more months of continued higher. Â
On the Dollar, We talked about it being bearish; it did break down below that 95.50 level. Our indicators did get oversold on Thursday, so it might bounce a little bit here, but we will look for the Dollar to continue lower, which will help Crypto prices.
On XAU, we’ve got an overbought on our indicators; we look for precious metals to come under pressure.
Thank You!
CFT Team.