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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.
" August price action confirmed our view from the last report with the end of a cycle from 12/04/2021 high at 64,854.00 to 29,278.00 as a triangle structure. We were long since week 21/07/2021 and as we saw the developing structure we are still long and aiming at 51,989.82-55,375.11 in the current cycle in 3h time frame for further continuation to 61,625.60-67,350 area in a bid to challenge the all-time high.
So, our view is that as long as above 29,278.00, we remain cautiously bullish in weekly because the current structure from the low is not yet bullish and that we do not have any bullish sequence yet in daily, and therefore the structure so far remains corrective in nature and a new low cannot be ruled out. Anyway, our strategy is now to see a short-term continuation higher to take profit and study the correction during September 2021 to buy again.
Only above 64,854.00, we could confidently be targeting 90,349.87-128,092.29 by the end of the year 2021 before a large correction in the weekly time frame, likely similar to what we witnessed in early 2014 and 2018."
Find here attached, our August's monthly fact sheet.