Web3Quant #3

Weekly Update  - 30 May 2022

The Model is still sitting on 100% cash and is bullish on Bitcoin Dominance.
NO NEW signals have been generated.

In last week's note, I had mentioned this

Current sentiment is really bad and crypto is trading at oversold levels. Last 8 weeks of RED. A sharp counter-trend rally shouldn't really be surprising, if there is one.

and as we speak there's a sharp bounce across the board. Is it a relief rally that would be short-lived or is it a major trend change? No one knows. The model will pick it up if it's the latter in due course, until then, it's watching from the sidelines. Here's the interesting bit, even during this steep bounce the bitcoin dominance has still risen, and it's not a typical alts only show.

I would like to remind everyone that the model ignores the short-term price volatility and noise and is NOT designed to catch pico tops or bottoms. It goes long after a strong uptrend is established and by that time the asset is usually up 20-30% from the lowest lows.

Below are the updated signals/chart of top cryptos.

** Web3Quant is not registered with any financial regulatory agencies. Web3Quant is purely a research publishing firm and does not provide any personalized financial advice. Do your own research and consult your financial advisor.**