Bitcoin – Sell Signal

Posted on | by Leon Hinde

The rebound in the NASDAQ has been sharp and it’s possible we’re now looking at a level of overhead resistance. For crypto investors, this provides an opportunity to consider hedging or an outright short position.

The strategy requires a stop loss which means any short exposure is closed out if the market rally continues.

7/4/22 update: BTC-USD has rolled over and the technical setup remains negative.

23/4/22 update: The NASDAQ continues to move lower reflecting a risk-off sentiment, which is also impacting Bitcoin. BTC is under Algo Engine sell conditions and we remain short Bitcoin futures as an open trade.

Meta Crypto Education

Posted on | by Leon Hinde

Meta and other companies have a long-term vision of building 360-degree immersive worlds, which people will access through virtual reality goggles like Meta’s Oculus.

Sandbox: SAND is the utility token used throughout The Sandbox ecosystem as the basis for transactions and interactions. It is an ERC-20 utility token built on the Ethereum blockchain.

Decentraland: MANA token is the native currency of Decentraland. It is a cryptocurrency (ERC 20) and can be used to buy in-game goods and services

NASDAQ – Valuation Review

Posted on | by Leon Hinde

NASDAQ’s PE ratio is now 27X forward earnings with 2022 earnings growth rate forecast at 12.3%. The recent rally is a significant extension given the move higher in interest rates.

The graph below looks at the valuation of the S&P relative to US GDP.

9/4 update: The downside momentum continues in the NASDAQ.