Hello from CFT (our video is out!),
Hope everybody had a Merry Christmas and a safe and Happy New Year. Back to work here!
Bitcoin, we have been calling this green wave 1-2 to the upside and possibly another 1-2. We did talk about $52K-$53K-$54K maybe turning it lower cause our indicators were starting to turn a little bearish. That did happen in the last few days. We have come back down here, but the $45.500 low or so held thus far. So still, the bullish count is we’re in this green wave up, and the bearish count still is the possibility we could be doing this triangle. So we have the a-b-c-d-e as posted, then we come over here as we mentioned before, a w-x-y to the downside. This bearish count would show something down to around $40,000 before trying further upside. That would complete this wave 4 as such. So that is the two possibilities we are looking at, and we will monitor them from here.
U.S. stocks, we have talked about still higher, that is still our opinion. Maybe a little lower early in the week, then possibly getting us some buy signals.
Dollar, we are bearish, we did see a little bit of a breakdown late in the week, and we look for lower in the Dollar.
Precious Metals, we have talked about going higher, and it did spend last week rallying, and we expect that to continue.
Again, have a Happy and prosperous New Year!! Thank You