In the mid-week update, Ominous Signs the below was mentioned
The model has been picking up signs of loss of momentum on LTF.
There could be a 20%-30% correction on the horizon.
It would make sense to close all the Degen plays.
It would be prudent to play DEFENSE.
Thus far it's playing out.
The model has exited All positions (both Crypto and NFTs) and is sitting on 100% CASH.
So is the bull market over? It does NOT have to be the case. Nothing thus far is suggesting it. Until that changes, it's most likely a correction within a bull market which is NORMAL.
Now the point of showing this is, there were many EXITs made by the Model from June 2020 to Nov 2021 too.
It's designed that way to manage risk. To take the guesswork out.
Just like in previous times, the Model will get back in when the conditions turn out to be more favorable and there's a strong indication of a trend reversal.
For all we know, it could turn out to be a shallower correction than what the Twitter influencers are calling for.
For those looking to accumulate for Long term
$BTC 24K (scam wick to 20k possible too) would be an ideal entry point.
On the other hand
BTC close above 30700
ETH close above 2100
would also be a strong indication of a reversal.
Lastly, even when the Model is into CASH there would still be trading opportunities in Alt/BTC cross-pair trades.
Those would be published in the coming days till the model goes LONG again.
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