Our Weekly update BTC-US Stocks-$-Metals!

Oct 30, 2020

Home 9 chart Analysis 9 Our Weekly update BTC-US Stocks-$-Metals!

Good morning from CFT!

Our weekly update (enclosed video).

Most markets have been following our roadmaps except really for Bitcoin. Bitcoin continues to hold up really well in face of a really weak stock market.  We have been looking for a B wave top here, and for selling to come in.

As we said it is holding, we are going to watch here today.  It kind of feels like someone is caught short, and continue to try and cover those shorts, so we are going to have to monitor this.

As you know, Altcoins are coming under major pressure… Etherium does not act well, Litecoin and many other altcoins. Bitcoin just showing major outperformance for the moment, we are going to monitor that before we comment much more.

We’ve got U.S. stocks you can see here we have been looking for a wave 2 down. We had the sell on Oct 12th, the day of the highs,  continuing down below our previous buy that we had at the green arrow. Our indicators are getting close to oversold today, but price action is not good, so we have not given a buy as of yet.

The Dollar we were looking for higher, we did hold down there where we thought it definitely needed to, we have had a good week,  we still expect higher, but if it does stop here this could be a triangle pattern, and we would look for another new low which would be bullish for Cryptos. But for now, we are going to give this a little bit further time to work higher.

With the strong Dollar, you got Precious Metals breaking down, we talked about that last week.  We have been short with a slow grind to the downside, but we are still short and see if we can work lower.

Have a good weekend!