Friday, September 17, 2021. Bitcoin – Stocks – $ – Metal – Our video is out!

Sep 17, 2021

Home 9 chart Analysis 9 Friday, September 17, 2021. Bitcoin – Stocks – $ – Metal – Our video is out!

Good morning from CFT (our video is out!)

Bitcoin: We left you last week with two scenarios we were looking at. In front of us, we were looking for a “b” wave up in the red before another selloff. That definitely is still on board and looks much higher likely, then probably this morning, but our indicators are not giving a sell yet. So there is still a possibility of our second count, which was looking for still higher in the green wave “5”, and what we would be doing now is just another minor “1-2”, and we’re still going to subdivide higher. So, and that would take us up to probably, you know, the $60,000 level. So those are still our two scenarios; indicators are just a little bit above neutral, so we are not sure which one has a higher probability, so we are watching both.

U.S. stocks, we have talked about being a little bit bearish, our indicators did get friendly, but we are not really bouncing here. This is not a good time frame in the next few months to be long U.S. stocks, so we are a little hesitant to do any buying, and really we are on the sidelines.

The dollar, we are looking for it to roll over; it is higher today but hasn’t changed what we think is a negative chart pattern. We’re still leaning that we will get a breakdown below 89 and might want to put on shorts in the next few days. Our indicators did get friendly on here, oversold a few days ago, which was leading to today’s rally, but again we are still on the sidelines.

XAU, we were looking for it to test the “spring”, it is breaking that today, which puts us back on the sidelines, with no opinion at the moment.

Have a good weekend, and thank you! 

CFT Team!