Riding The Wave Weekly Outlook #13

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Table of Contents

1. Tweets

2. What’s Happening Now?

3. What Might Happen Next?

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Tweets

Willy Woo @woonomic

Past bear market capitulations (red) followed by accumulation zones (green) according to stablecoin flows.

Watcher.Guru @WatcherGuru

JUST IN: 🇬🇧 Bank of England has raised interest rates to 0.75%

Dylan LeClair 🟠 @DylanLeClair_

The balance sheet of the Federal Reserve has surpassed $9,000,000,000,000.

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What’s Happening Now?

Bitcoin is once again attempting to break the trend of being stuck under the 8 week SMA.

Weekly Timeframe Bitcoin

During this week we have also fallen below the line we drew as support (red line in the image below) before pulling back above the line successfully testing it.

Daily Timeframe Bitcoin. Red/blue boxes are potential areas of support/resistance, the red line shows potential area of support

As the 8 week SMA and the line we have found support at converge we will have to see which holds and which breaks.