Hello from CFT, our weekly update Bitcoin, US Stocks, $, Gold!
Last week, for Bitcoin, we were sitting up there at $41,000-41,500 we believe it was. We were looking for an “abc” down as shown in the red, for a white wave 4. We immediately had the breakdown to $30,500, and we did make some purchases of Ethereum and Litecoin on that break that we will show in a minute. The question is now, are we doing this “abc” still lower for another new low at $30,000. Or whether we are possibly doing a triangle here, around the $35,000 level a few days. Or whether we are going to hold right here, and continue to new highs.
So we still think just a lot of volatility here, and hopefully, we can play that.
Ethereum we will show here, on the green arrow, let’s go back to the 15-minute chart. You can see we did buy the break, be better on the 5 minutes, bought the break on Bitcoin down to $30,500, and we are long Ethereum from $950 area. Again, hoping it can hold in here and try the upside again.
We bought Litecoin on the break at $128 zone. Same thing hoping it can hold in here. And Bitcoin $36,500 we do have a current stop at $36,200 for Spot (booked profits of the spot at $36,200 at writing this post), we don’t want this to turn into a loser, it will be a small profit. Our ALGO did get out by taking excellent earnings at $38,500 (over 50% AUM at FUTURES), so we are looking perfect here. 🙂
U.S. stocks: we have been showing the 4 hours, again we have been looking for a pullback to start, but we do not think that has started yet.
A little bit of weakness today, but could turn into more, but we are currently long positions we have talked about. We are long PAGS still, it is holding up near the highs. KEYS continues to do very well for us. And TRIP, let’s add TRIP on here as it is not on the screen, and TRIP same type of thing, still holding at $34 and we are long from $26.80. So happy with those positions.
Then U.S. dollar we have been looking for a low, it has firmed up today, so we still think the dollar will try to work higher. And we are short the precious metals, and that trade is starting to work for us again.
We are looking for a breakdown to lower levels.
That’s all. Thank You. 👍