Model continues to sit on 100% CASH since it exited all positions in April.
There are 2 encouraging signs from the perspective of a bull
1) Trend on the downside is NOT strong either and BTC/ETH are not breaking down. This could be the case of accumulation underneath the surface.
2) There are signs of green shoots on LTF but these could just be fake-outs;
hence it is always good to wait for HTF confirmations before getting aggressively long.
BTC Weekly close above 28K would be the first sign of reversal.
As mentioned in the last update and it continues to be the case.
Model continues to be bearish on BTC Dominance.
Model is also bullish on USDT Dominance which in the past has preceded corrections.
The call is playing out well thus far.
Model continues to be in capital preservation mode.
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