Good Morning from CFT (July 1st, 2021),
We have been showing two counts over the last two weeks, on how we are trying to end this correction on Bitcoin and work higher.
Everyone seems to be bearish; everyone now wants to be a trader.
We are of the mindset we are making a major low, and want to be prepared for the next major rally back to new highs.
We have shown this triangle, which definitely could still be in formation; we need a quick rally here up to probably $50,000 to make this look better. Then we also have shown what could have been five waves down into the low when we did our last report, and if that’s the case, the low was made there down at $28,500, and we are still testing the lows on a Wyckoff basis, and now looking for a Sign Of Strength higher, before we again continue back to new highs.
So we are friendly and looking for new highs here shortly.
If you are not in this market, you need to get involved, and if you have been in the market and were bullish at $64,000, you have got to be more bullish down here and add to your positions.
On US stocks,
we have shown we were bullish on June 3rd, as the red arrow shows.
Moreover, we have said to stay friendly; our indicators are still looking pretty good, so we are expecting stocks to still continue higher.
U.S. Dollar looks still higher, and precious metals still look lower.
Thank You and Have a good weekend!