Thursday, September 10th, 2020- our quick weekly BITCOIN update (enclosed video)

Hello from CFT, our quick weekly update (enclosed video).

Thursday, September 10th, 2020

In front of us, we have the Bitcoin daily chart. We had expected a low to be made this last week, and we have been slow to come out of here, so we are a little bit concerned. So instead of having the ABC on the red…..meaning we have further bounce here…that possibly we are going to stop here and turn down again to like $9,300-$9,400 which is shown by the purple line. That’s what we are looking at today since the rally was kind of slow. It has been good in ETH, and LTC a little bit, but Bitcoin has been a little slow here. So, we think we are still on the middle of a correction, and we still have lower prices to go.

On stocks we have been using this chart, we still think stocks have turned down, we are getting a little bit of a bounce here, but we will resolve and turn lower here possibly even today.

The US dollar tried to dig out of a hole, but the last two days it has been back down, this does concern us…we still think the dollar is making a low, but not sure exactly how that is getting done., so we are going to watch this market.

Same thing with XAU (GOLD), we have had a little triangle pattern that we had warned about, it is still inside that pattern, but we are still short here, but really wanting a turn down from current levels.

Have a good week.


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