Crypto Weekly Update

Model has exited All positions and gone into CASH.

Its not ideal but we need to play the hand we are dealt.

It's been challenging market conditions. It's not the down move that made it tricky but the fakeout pump that happened mid-week after the SEC news broke out.

There was no follow thru to the rally and since then the markets have sold off and are looking ugly.

For many weeks now, the markets have been chopping on Weekly time, by neither breaking out or breaking down.

But back-to-back weekly closes suggest it could get rough, especially for the Alts in the coming days.

Currently, the only thing the Model is bullish on is BTC dominance.

Those who trade both Tadfi and Crypto are doing relatively better compared to crypto-only traders. It appears the bulk of the bull action currently lies in the TradFi stock space.

Considering that the sell-off has been hard, there could be mild pullbacks but the overall trend is still looking bearish.

It's time to focus on Capital preservation and wait for the bullish trend reversal.

** Web3Quant is not registered with any financial regulatory agencies. Web3Quant is purely a research publishing firm that provides no personalized financial advice. Do your own research and consult your financial advisor.**

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