Good morning from CFT (our video is out!).
Last week we were looking for a rally for BTC above $36,500, maybe some consolidation, then further up to $43,000 – $48,000. So far, that has been on track. The resistance up there at $41,000 has held so far. So we’re looking for some type of buy signal here in the next day or two, then possible further rally up to that $43,000 to $48,000 before another bout of selling.
On the Nasdaq, we have still looked for sideways to lower; we worked sideways last week, and we’re still looking for a little bit lower before we enter long positions. On the US Dollar, we talked about a short term pullback; we have gotten that in the last week, and we still look for a little bit lower before reentering longs.
Precious metals, we are still short; it has bounced a little bit in the last two days, but we’re still short and looking for lower.
Thank you, and have a good weekend!
CFT Team!