Good morning from CFT (Our video is out!),
4h chart Bitcoin,
We talked last week while we were at $57,000 to move slightly higher before turning down…we did that.
We are still looking for the “ABC” red correction, and possibly we could be looking for the preferred count, which is possibly more of a triangle. Our indicators are more neutral, so we are still looking for lower and might get a buy signal down around $48,000 if we do get a selloff down into that area.
On U.S. stocks,
they have turned down again this week; we are down today, so we are expecting still lower on U.S. stocks, which we think keeps the Bitcoin pressure.
The U.S. Dollar,
we had said we were still friendly for higher. It had a good recovery from the FED induced selloff two days ago. So we still expect higher.
And Precious Metals,
we are still short, and we are expecting lower.
Have a good weekend!