{"id":1700,"date":"2020-08-06T16:15:14","date_gmt":"2020-08-06T16:15:14","guid":{"rendered":"https:\/\/cryptosfundtrading.com\/uncategorized\/our-weekly-update-from-cft-august-6th-2020-enclosed-video\/"},"modified":"2021-07-30T19:37:55","modified_gmt":"2021-07-30T17:37:55","slug":"our-weekly-update-from-cft-august-6th-2020-enclosed-video","status":"publish","type":"post","link":"https:\/\/cryptosfundtrading.com\/es\/our-weekly-update-from-cft-august-6th-2020-enclosed-video\/","title":{"rendered":"Our weekly update from CFT – August 6th 2020 (enclosed video)"},"content":{"rendered":"

Our weekly update from CFT – August 6th 2020 (enclosed video)<\/p>\n

In front of us, we have Bitcoin. We have shown the green five waves up. Last week when we updated (at our Telegram channel) we were doing a little triangle up here to the upside and we talked about there could be a little bit more. We did get the BTC run to $12,100 and then we got a quick drastic selloff to down below the $10,600 support we had mentioned. We think that was probably a wave A down, then we rallied back up here to $11,787 for probably a B up.\u00a0 So, we are looking for another break below $10,550 and that could be another ABC for another 1-2 with an explosion to the upside coming.\u00a0 But also, if we don’t get support down here, then we could be looking for this deeper ABC down for a deeper wave 2.\u00a0 So, we will be on the lookout for this next selloff and see if it finds support. Our indicators are starting to get a little bit friendly, so we are anxious to see this next little pullback in the next few days.<\/p>\n

U.S. stocks have still continued a little bit higher here….against our original thinking.\u00a0 We don\u2019t think it changes anything, we still think we are late stages in the rally, we think we will still have a pullback.\u00a0 So, we are still a little bit short there, nothing drastic, but a little bit.<\/p>\n

We have got the U.S. dollar we talked about trying to make a low, it has stayed down here, a little lower than last week, but not much.\u00a0 Still we think making a low.\u00a0 And gold and silver did extend a little higher on the dollar not reversing as of yet. We are still short a little bit on gold and silver, and looking for a reversal there as well.<\/p>\n

So once again quickly on Bitcoin, this could be the wave 1 up that we have monitored….there is also a way of counting this that we had a 1-2 here, and this is another 1-2. That count would be extremely aggressive, but we are on the lookout for that.\u00a0 So, we\u2019re looking for a short term top here, and we will see how the correction looks on the pullback.<\/p>\n