In the last 24h, we hit $25,200 levels. We still think we might break $25,500 in the short term (70% probability, in our opinion).
The level of $28,000 is now a touch below 50% odds considering the extremely overbought in the equity market, so a clear risk for crypto that may fall if the stocks market falls.
Nothing has changed in our mid-term view, with the first target of $17,500, and then the following levels could be $13,000-$12,000 for bitcoin, and Ethereum might hit $600 if we go there.
We might see a pullback in crypto. For Example, Ethereum might get odds of 65% probability to start the downside, but we will wait for the best risk-reward to see at least 80% probability to open our short trades (e.g. Ethereum, it would mean $2,300).
We are watching the Apple chart and Nasdaq.
Nasdaq had a massive rally, and if we check the APPLE chart, the current levels 172-173 might be the maximum extension and a potential rollover in the cards.
We could be more conservative and book profit now or have our last $ exposure in play to hit $25,500+ (we still have 70% in cash).
CFT has a team of expert analysts that monitor the Crypto, Stock and Commodity markets and world events so that we can react quickly to any potential changes and maximise profits for our clients.
You can let the team at CFT make profits for your account.
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Have a good Day!
CFT Team.