Good morning from CFT (our video is out!),
We were not sure about our conviction last week because things were kind of mixed, so we did have an extremely sharp selloff down to $30,000 (Binance Futures $28,700) on Bitcoin. We do feel now that has changed the wave count, as you see on the screen. But that did complete a large “abc” down, and now we have higher prices ahead. This could be a large triangle that will form here, now with violent trading in the months ahead, or slowly just work higher. But we have definitely turned friendly now with that selloff and looking for higher prices.
On U.S. stocks,
we talked about them still working a little bit higher; we still think probably they can work just slightly higher here before a further downtown.
US Dollar is trying to make a low but very lethargic.
Precious Metals continues a little bit higher against our shorts, and we are still slightly short.
Have a good weekend. Thank You!