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It's Been Wild in These Crypto Streets

It's Been Wild in These Crypto Streets

November 14, 2022

Hi There! If you have been following the news, you would have seen that the crypto market and the Web 3.0 space as a whole suffered a huge blow with the FTX fiasco. In a nutshell - FTX, the biggest US exchange crashed, Binance offered help, Binance then backed out citing the reasons as "Corporate due diligence" and "regulatory investigations and reports of mishandled funds", and FTX along with affiliates like FTX.US and Alameda Research have since filed Chapter 11 bankruptcy.

Needless to say, the crypto market reacted and everything went red! Thankfully, I am part of a group of masterminds and we took advantage of opportunities to short various coins while protecting our profits. We followed a contingency plan! And you can too! (www.10PageTradingPlan.com)

Other key highlights from last week:

NFT community is outraged - OpenSea and creator royalties
US stock market jumped after the CPI data release
Corporate layoffs - Meta, Twitter, Stripe, Robinhood, Lyft

We are heading into expiration week:

Monday (11/14/2022) - First trading day of expiration week, the Dow has been up 12 of the last 18 - expect a bounce off key support levels
Tuesday (11/15/2022) - US Producer Price Index (PPI) - Trade what you see
Wednesday (11/16/2022) - US Retail Sales and VIX Expiration - Expect to see some profit taking - again trade what you see
Thursday (11/17/2022) - US Building Permits and US Initial Jobless Claims - expect volatility
Friday (11/18/2022) - Triple Witching - all eyes on the US Leading Indicators data and Existing Home Sales - Protect your profits

November Week 11/6-11/12 Recap

What Happened to FTX? Here’s What to Know. - The New York Times — www.nytimes.com

Binance, the world’s largest cryptocurrency exchange, was set to bail out FTX. Then it pulled out of the deal.

We Need to Talk About OpenSea and Creator Royalties — nftnow.com

While the NFT giant is giving new collections a creator fee-enforcement option, existing collections could default to zero royalties.

U.S. stocks jump after October inflation rate sparks hope of smaller rate hikes By Investing.com — www.investing.com

U.S. stocks jump after October inflation rate sparks hope of smaller rate hikes

Twitter, Facebook, Lyft layoffs spark fears of dotcom crash 2.0 - The Washington Post — www.washingtonpost.com

Tens of thousands of tech workers lost their jobs this week as pandemic overspending, high interest rates and recession fears hit home.

Special Tool & Strategy for the Week

The crypto market may be down overall, but there are always opportunities to trade. A favourite crypto tool utilized within our mastermind group and used by many crypto traders is the CoinGecko screener. You can find trending coins (green across all time frames) to trade using this tool, even in a down market. The key is to get in and out. (This is not financial advice. Do your due diligence.)

Here are some popular filters used: