Crypto Weekly Update

Model continues to sit on 100% CASH since it exited all positions in April.

Its played out well and the model was able to sit out the entire correction.

Earlier in the week the below was mentioned on Twitter

The view has played out too but this is still a relief bounce and the trend is still NOT bullish yet.

It's gone from a buy-on dip to a sell-on-rise market.

Strongly weekly close above 30K would invalidate the bear. Till then it's important to be cautious.

In last week's update mentioned this was mentioned

No change in BTC Dominance yet but the model is picking up signs that the momentum is waning on LTF.

This particular call was interesting because the most folks were of the view that even if Crypto corrects, BTC would correct less than Alts.

Models calls been playing out thus far and BTC Dom is down around 3%.

Model continues to be bearish on BTC Dominance.

Model is also bullish on USDT Dominance which in the past have preceded corrections.

Model is also bullish on DXY (USD Dollar)

This further strengthens the bear case.

Can there be a magical bullish catalyst that appears out of nowhere and takes crypto markets higher? Sure why not

but as always, positioning in line with the current trend is much more profitable than trying to predict reversals.

Should there be a bullish reversal Model will go long but as of now,

CAPITAL PRESERVATION IS THE KEY.

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