Good morning from CFT (our video is out!).
Not much has changed since last week for BTC. We were still looking for a “B” wave low and a rally up to above $36,500, and possibly reaching up to $43-44-45,000 before another correction. So we think that is still on track, and that would be followed by further weakness. Or as we have shown, we still could be doing the larger triangle, which means the rally up to $45,000 or so, or $48,000 could be a “B” wave of a triangle, then we would continue sideways for a few more weeks until the wave “4” is actually over. But we’re still leaning bullish and looking for higher prices.
On the Nasdaq, as we had mentioned, we were looking for a selloff this week; we had a large selloff on Monday, then a total recovery back to new highs. We are still looking for some sideways, but the U.S. stock market still seems to be the place where all capital is going.
The U.S. Dollar, we talked about a top being made; we still think we could have some type of pullback here in the short term before higher.
The XAU, we are still short, it is continuing to break down, and we look for still the precious metals to work lower.
Thank You, and have a good weekend!
CFT Team!Â