Crypto Update
There was a lot of action in the Crypto space last week but all was centered around the Meme coins.
Lot of movement on LTF but still trends have NOT flipped on HTF yet.
Model exited all positions mid-April and continues to sit on 100% CASH.
With US banks failing, BTC probably has one of the strongest narratives it's ever had, the TradFi markets and Nasdaq are holding up well, and Tech is performing strongly yet
BTC is unable to close above 30k.
BTC needs a strong bullish close soon else we could be looking at a bigger correction.
Model has turned from bearish to neutral on ETHBTC.
No change in BTC Dominance yet but the model is picking up signs that the momentum is waning on LTF. If it persists then the model will flip bearish on Dominance too.
If we get a weak close in the coming days then will publish a few short trade ideas.
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