BITCOIN WHAT NEXT?!!!! WATCH BEFORE NEW YEAR!!!

 

Hello from CFT (new video is attached!),

With our weekly update. Want to wish everybody a safe holiday, and come back in the New Year ready to make some profits.

We’ve got the Bitcoin chart in front of us; you can see we are subdividing out. Let’s spread this chart out a little bit so we can zoom in. We’ve had the previous 1-2, and we are working on now the wave 3. We’ve done a 1-2-3-4 in the white, what we believe. Last week we were right here thinking we were completing a wave 4, with a wave 5 up. We did get that, and we did make some money in Litecoin, Ethereum, and Bitcoin. Our ALGO at our futures account is still long up here at $28,100. We are looking for some type of a-b-c consolidation here in the red for this wave 4 white. So we think we could see some volatility here for the next, you know could be a week or could be a couple of weeks, and then still onward up for wave 5 of this, which would then be the wave 3 of this 1-2-3-4-5 pattern up. So continue to subdivide higher, and hopefully, we will be able to trade some of this sideways movement, as well as catch the majority of the upside.

U.S. stocks, we’ve been still long as we have mentioned, we keep slowly working higher, our indicators last week were neutral, starting to look a little bearish, they are now a little bit more bearish looking, so we are going to try and protect profits in some of our stock positions. We think this count could be correct, we’re looking for an abc down, for a possible wave 2, but we will be looking for something down. Quickly we are long Microsoft which has reversed today and yesterday a little bit but still profitable. PAGS continues to hold nice gains for us. KEYS continues to hold gains as well, having a decent day today. And then we also bought TRIP last week around $26.80, and were $28.40. So, again we are going to try and protect profits, or take profits in the stocks, looking for a pullback soon.

The US Dollar has continued lower, which we actually still think is a bottoming pattern. We think maybe this is a wave 4, and this is a wave 5. Were looking for the dollar to still make a major low down here.

We’re short the XAU, at the red level here, we still have profits, miners are not acting well, so we are long the DUST, which is short miners. So we still look for the XAU to work lower.

So again for January, we’re just looking for a continued bull market in these cryptos, and just trying to trade around our proprietary indicators. There has been a lot of regulation talk coming in here like on XRP, possible XLM and others. So we think the environment will be very volatile next year, and you want to be able to take advantage of that volatility.

So everyone have a Happy New Year, and we will talk to you next year!!

Thank You.
CFT Team!

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