Hello from CFT!
4 hour Bitcoin chart in front of us. We have been showing this “abc” 4th wave correction what we were looking for. We actually got that EXACTLY.
So we came down we were looking for a break of $30,000, which we did get. So now we think wave 4 was done, so let’s delete that. At the spot, we were a buyer overnight down at $29,000, and change and also bought Ethereum and Litecoin. So, If this 4th wave labelling is correct, we can go to new highs here, but let us not get ahead of ourselves.
Our BTC ALGO actually just went long (futures) at $32,250, so we have quite a bit of long positions here now.
Ethereum we are showing on the 1-hour chart, we talked about being long at $950, we sold $1185, and we bought back around $1060 overnight.
Litecoin we had been long at we believe $128, sold $138, then we were a buyer last night around $125 on the selloff, we got a perfect entry there.
And Bitcoin we had bought some $35,800, sold $36,200 and bought below $30,000 last night (Algo had purchased $31,950 and sold $38,500 a week ago and bought again today At $32,250 Area) so looking good on all Cryptos and we are looking higher.
U.S. stocks: we have been talking about, looking for an “abc” correction. We have continued higher; we have not given a sell signal as of yet. We have a little bit of selling in U.S. markets this morning, but we have not given a sell signal. At some point, we do think U.S. stocks will rollover.
We have got the U.S. dollar we have been monitoring. We are looking for the Dollar still to bounce. And this mornings low could be from where that bounce occurs again, maybe get a rally up to 92.50-93.00.
And XAU we are still short, we sold at the red arrow, we have got profits, were looking for this to continue lower.
With Bitcoin, you know we have many institutions entering this area, and we think we are going to have more increased volatility moving forward so if you want to take advantage of that volatility and book some profits, we believe you need to get interested in what we offer here at CFT!
Good luck in trading. Thank You.