Monday Update on Bitcoin-US Stocks- $ – Gold!

Nov 16, 2020

Home 9 chart Analysis 9 Monday Update on Bitcoin-US Stocks- $ – Gold!

Good afternoon, another update from CFT (attached video).

We wanted to come on here. We have taken a sell on the stock market this morning. So we’re thinking we are still doing this “abc” we have been looking at here for quite a few weeks. So we think maybe we tested the highs of a week ago, and ready to turn down. Already that trade is working a little bit, we gave it when the Dow Jones was up about 440 we believe it was, and the S&P was up about 37 or 38, currently up 25. So we are looking for stocks to come down.

We got the XAU we’re still short, we think there could be some weakness there.

On the Dollar, we think we could have the rally up to $93.75ish or so, then we will reevaluate.

Then the big one Bitcoin, it continued higher today, so we had to change the count a little bit. We still think we are going into a top here; we have been saying that and we missed this rally today. We still think the risk is very high, and we could see this 20-25% pullback still somewhere up here at these levels or a little bit higher.

So that’s our current thoughts. Be nice to have the stock market fall off sharply, and drag Bitcoin down a little bit, and then we will be able to position into some good longer-term positions.

Thank You