Our Weekly Update on BTC-US Stocks-$-Metal

Dec 18, 2020

Home 9 chart Analysis 9 Our Weekly Update on BTC-US Stocks-$-Metal

Good morning from CFT (attached new video!),

updating our thoughts. Here we have the 4 hour Bitcoin chart in front of us. We had mentioned last week down around $18,000 that our indicators had turned friendly. We were looking for lower, but that made us take some long positions. So we did catch a rally up to about $19,300, we did take profit on some of our positions there, looking back should not have done that, but we did stay 50% long in our ALGO trade (FUTURES) that we are still long, we are looking for a little bit of a pullback here maybe in a wave 4, and if everything comes together, we will be looking to buy that for still further rally. It looks like Bitcoin has huge institutional money still on the way here, so we have a bull market, just got to manipulate our trades and take advantage of that.

So if we go back to U.S. stocks, we talked about our inhouse indicators trying to get friendly, and we were long a few stocks. Our indicators are still kind of neutral, we have continued to chug a little bit higher as we mentioned, we have some Microsoft we have a small loss in, we also were long PAGS that one took off for us, we have a nice gain there, and we are also long KEY with a nice gain. So we are staying long those stocks looking for possibly still a little bit higher on the stocks and waiting for our indicators to get friendly to be able to buy more.

The U.S. dollar has continued lower, against our wishes, but actually, on the XAU you can see on the red arrow where we are short from, we still have a small profit. We’re staying short as we think the dollar is making a major low, and we think that will pressure the metals.

That is all for now.:)

Thank You!