Hello from CFT (our new video is out),
No change from last week’s update. Bitcoin has traded sideways here around $47,500. Still, we show the red wave 4 triangle, which was our main focus. As we said last week, we have turned a little more bullish, thinking maybe the low is in here, and we have had very good price action.
Our overbought readings have come off from overbought, up there at $50,000, so we are still looking for a place to add to longs and look for higher.
QQQ, U.S. stocks,
as we had mentioned, we had a sell a few weeks ago, they have been holding up, and we are looking still for some type of rollover here and a chance to buy lower.
Has been off the last few days. The dollar is interesting as this could be a large ABC to the upside, meaning we are going to new lows.
Our indicators are a little friendly today, so maybe we are going to get a bounce, but we are turning our focus to lower in the dollar and possibly new lows down there at 89.
If that would be the case, you would see the XAU we are sure to rally strongly from this “spring low” that we made this week. So, then we would turn our attention to higher on the XAU.
That’s all, have a good weekend. Thank You!