Hello from CFT (our video is out!),
Bitcoin:
Our stock indicators got a little friendly mid-week, which led to Friday’s strong rally. Bitcoin followed the Nasdaq higher as expected. For those of you knowing of Elliott Wave, we were talking about a five green waves up and an a-b-c pullback. It does look like that will lead to higher prices. The thing that could stall possibly is maybe we are looking for an a-b-c here, beginning of the week. Then from there we will continue to work higher. So we are bullish; we did take some profits in the last 48 hours of 18-23% on a few alt positions. Otherwise, we are staying long in our other positions for the time being.
Nasdaq:
Again, middle of the week indicators stayed friendly, leading to Friday’s strong rally. We look for stocks to continue higher, at least until the middle of the week.
On the Dollar:
we are still looking for a top to be made. We have shown a little longer-term chart. We think the Dollar is going to start trending down.
And Precious Metals:
we have talked about wanting to be long. There was some weakness into Friday, and Friday reversed higher. We think precious metals can still work higher.
Thank You!
CFT Team