Weekly Crypto Update

As mentioned in the last weeks update

$BTC closing above 31K would be the first sign of the resumption of the up move.

We got a massive XRP good news. This is some its sense bigger than the BTC ETF catalyst as it removes major regulatory overhang (or at-least a step in that direction).

But inspite of such strong favorable catalyst, BTC wasn't able to close above 31K.

It's not concerning yet as the HTF structure is still intact but we probably need some more work on LTFs.

A minor flush to rinse late-levered longs could be on the cards.

Models call on DXY (USD) is playing out really well.

There was a massive breakdown in the King dollar last week.

There could be minor LTF pullbacks but the trend seems firmly broken for now and Dollars looking bearish.

Major areas of interest lie in the low 90s. This should provide a major tailwind for risk-on assets such as Crypto.

W3Q has published a How-To guide for those interested in learning how to best use the model insights. Check it out.

Coming to the Model positions, there have been no exits and 2 new entries.

** 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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