Good morning from CFT (our video is out!),
On our screen, here is the 4 hour Bitcoin. We have been showing a red a-b-c pullback was possible. We did get that with the breakdown below $40,000. And, then last week, we did have an oversold reading down there; we had a nice rally up to $45,000—everything looking good for the BULL case until China comes out today with their calling Bitcoin illegal. So, we are bouncing off the lows from this morning, We still lean bullish, and we still look for higher. We do not want $40,000 to give away; if it does, then possibly we could see a little bit reaching lower before we turn up.
On Nasdaq, Again we have been looking for a little bit of a pullback; we got that Monday, but we have recovered quite a bit, and our indicators are neutral. We’re on the sidelines.
On US Dollar, We have been looking for it to turn lower. We thought that high at 93.72 would hold, and we are wanting to be short here, but currently no positions.
And XAU, We thought maybe under accumulation, it is getting a little bit deep here, but we thought we would get a rally in the XAU when the dollar turned lower.
That’s all, have a good weekend. Thank You!