Hello from CFT (our new video is out!),
Bitcoin, Last week’s weakness in Bitcoin has moved the bearish red triangle to the forefront. We talked about a W-X-Y green wave down, to maybe slightly below $40,000. We are close to having accomplished that. We could see a little more weakness; we think in the coming week with U.S. stocks still a little weak. And we’ve been bullish stocks; still, bullish Bitcoin looking for this red wave (C) to bottom out and then continue higher to sideways for the white wave (4), then from there we will have a white wave (5) to we think $100,000 plus.
U.S. stocks, We have talked about still looking for higher, but maybe a little bit of selling last week. We did have some strong selling during the week last week. We are down here; we think these lows could be “sprung”, and then we will continue higher on U.S. stocks.
The Dollar, We have talked about it rolling over; it is still showing some weakness here, we look for the Dollar lower, and precious metals we look to turn higher.