Zignaly Providers Monthly Recap (July)
Not much was happening this month as the crypto markets have been mainly in a consolidation phase resulting in a pretty volatile and slightly up-trending move for both BTC and ETH.
This has not affected the ETH Futures system but has proven quite choppy for the BTC Futures Provider which is currently going through a correction (drawdown).
As mentioned, following last month's winning trade the BTC Provider has been going through a bit of a drawdown since the market has proven to be not favorable for this system in these particular conditions.
This is to be expected particularly in bear markets, as they are characterized by the occasional strong directional move, alternated by the also occasional strong counter-trend bounce, and the more frequent sideways period (such as the one we are going through right now).
The ETH Futures Provider has instead seen better results compared to the BTC system, opening a long trade around the middle of last month and so far showing some profits.
In spite of a “challenged” start due to very unfavorable market conditions just after its launch, this Provider has so far proven to meet expectations really well, proving more volatile compared to the BTC Futures one (the reason why I always suggest a reduced allocation), but also very effective when the opportunity presents itself.
Looking forward to seeing how it will face the rest of this bear market and overall pretty satisfied with it.
Altcoins Spot Market
Finally, not much to say about the Altcoins Spot Market which, as you might know, entered a shutdown period almost three months ago, reason why we have suggested to all the copiers to re-allocate to the two Futures Providers for the time being, as they are much more capable to capitalize on the current market conditions (and they have already proven it).
So if you still have an allocation with the Altcoins Spot Market and have not re-allocated to the Futures Providers yet, hurry up!
If you have any comments or questions let me know, your feedback is much appreciated!
As usual, if you have any inquiries, suggestions, or doubts, feel free to DM me on Twitter or Telegram.
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