Good morning from CFT (our video is out!),
Bitcoin, We wanted to do a quick update here before the Christmas holiday. We talked about this 1-2 finishing here a few weeks ago, and last Friday, we talked about another 1-2 finishing. It looks like that did happen, we are now trading at $50,808, and we are long. We still look for higher. We do have to be worried, indicators are getting closer to overbought, meaning that we could slow this rally. If we do completely slow here, then we think there is a possibility of still a triangle that we had shown two weeks ago. That would be we are working on a “C’ wave down, and inside that “C’ wave we’ve got a W-X-Y. That would mean a rally up to $52K, $53K, $54,000 could be met with selling, and we come down one more time. So again, not our preferred count, but we are looking at that and being prepared for any alternative. But for now, we are still going with the bullish count, the 1-2 1-2 is completed, and we are headed higher.
On U.S. stocks, we have talked about going to new all-time highs, we did have a good week this week, and we think stocks are still headed higher.
Dollar, we still think lower…
And Precious Metals, we still think higher…
Please have a Merry Christmas and Happy Holidays, and safe travels for our travelling friends.