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Next Gems' Forecast August 2021

This market forecast is for our Actively Managed Certificate: CRIptonite Next Gems.

This product‘s investment universe includes the largest 15 crypto tokens. It’s a swing trade strategy based on Elliot waves principle.

Asset allocation can move into cash when downside risk prevails; only few cryptos are selected depending on their momentum, this is not a fixed set basket nor a tracker.

"July saw a retest of previous low at 28,805.00 but fail to break below to continue a larger corrective cycle as proposed in our June report. As possibility of a triangle structure appeared clearer in other instruments, we entertained both options and we now have called the end of the cycle from 64,854.00 completed at 20/07/2021 29,278.00 low.

The break above 41,330.00 but the reversal signal on 25/07/2021 in our system confirmed the triangle option. While we cannot discard the possibility of a further larger correction in the weekly, we now propose at least a 3 waves structure to the upside or to new highs. We have resumed our long positions and swings on this signal and we like to see at least 47,000-51,200 as our targets here.

Depending on the structure of the cycles in the daily and 12h time frame, we will act upon closing or holding our positions. On the contrary, failing to hold 29,278.00 from current levels or higher below 64,854.00 would trigger the alternative view with a larger correction that would last until possibly November 2021 to February 2022."

Find here attached, our July's monthly fact sheet.

Fact Sheet NG 02.08.21 -JULY-
Download PDF • 2.48MB
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