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.
"Our call from last month was premature as bitcoin did complete indeed a cycle down to 50,427.56 low followed by a new all-time high to only show a bull trap with a bearish structure down to 46,930.00. In our weekly report, we did anticipate the turnaround about 63k so we were not caught in the pullback that allowed us to continuously buy the dip with now an average position at 52,800 for medium term trade.
As we followed ETH, AAVE, DOT and VET, we are now committed in swing trades for those instruments. While it is too early to call the daily correction over by looking at the chart of Bitcoin, we are confident now that the main trend has resumed as shown by other instruments, notably BNB and BCH.
This month, we like to see a break above 64,854.00. The targets to the upside remain a minimum as we will need to assess the structures from current levels with price remaining above 46,930.00. Failure to hold this level would need to review the structures from 3,156.26 with a possible correction. So, for now, we have reduced our long-term position and will focus on shorter cycle as per our usual strategy. "
Find here attached, our May's monthly fact sheet.