Crypto Update

As mentioned in the update a few days ago

There is an ugly reversal on BTC and a loss of momentum. Lots of weakness creeping in from the TradFI space too.

Model signaled a Sell. Exited all positions and sitting on CASH.

It's been frustrating for the Bulls as there's been absolutely no strength in the markets for months. All rallies are being sold into.

Weakness is visible not just in Crypto but also in TradFI. Things are looking ominous.

For the more savvy traders, it would also make sense to buy some short-term downside insurance through PUTS.

For the rest sitting on CASH and protecting capital makes more sense till we get a bullish uptrend trend confirmation.

It's not ideal but it's important to play the cards you're dealt.

The only solace is if we do get a correction (BTC around low 20s) it would be deep value levels to add long-term core positions. Will publish the value thesis this week.

The sell signal is purely from a short-term trade perspective.

** Web3Quant is not registered with any financial regulatory agencies. Web3Quant content is purely for research, education, and entertainment purposes and should NOT be considered personalized financial advice. Do your own research and consult your financial advisor.**

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