Riding The Wave Weekly Outlook #16

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Table of Contents

1. Tweets

2. What’s Happening Now?

3. What Might Happen Next?

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Tweets

nikolos @nihkalowz

#bitcoin supercycle.

Watcher.Guru @WatcherGuru

JUST IN: Terra $LUNA now owns 42,530 #Bitcoin ($1.71 billion USD).

Plan©️ @TheRealPlanC

Someone is still buying #Bitcoin, otherwise the price wouldn't be at 40k 🤷 #Crypto

Watcher.Guru @WatcherGuru

JUST IN: The AMC mobile app now accepts payments using #Dogecoin, Shiba Inu, and other #cryptocurrencies.

Watcher.Guru @WatcherGuru

BREAKING: 🇷🇺 Russia has drafted a bill to make #Bitcoin and #crypto a legal form of payment.

Plan©️ @TheRealPlanC

For the 4th time in #Bitcoin's history we have left the blue zone. The last 3 times this occurred the #BTC bottom was already in and a massive bullish uptrend followed. Probably a coincidence... #Crypto

Plan©️ @TheRealPlanC

4/4 times this indicator went below the 0 red line, it lead to a significant #Bitcoin price capitulation. Will we go below this line in the coming months? If we do will we see a significant price drop for the 5th straight time? #Crypto Still room left to turn the trend...

Dan Gambardello @cryptorecruitr

Cardano altcoins are finally here. It could mean some big opportunity! I also had an opportunity earlier to have a private chat with @CornucopiasGame co-founders @RobGreig3 & @keyofjoshua...And this Cardano metaverse looks fantastic! $ADA

youtu.beADA ALTCOINS ARE HERE (BIG DEAL)! CORNUCOPIAS, A CARDANO METAVERSE GAME CHANGER.⬇How To Stake Your Cardano In Minutes With Crypto Capital Venture!⬇Stake Your ADA With Ticker: CCV1 ➡ https://youtu.be/cikJiJgRZFQCardano has a brand new w...

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What’s Happening Now?

Bitcoin has dropped & closed below the 50 & 20 week SMAs last week, this week we are currently below the 8 week SMA & we will close below it if we don’t move up before Sunday.

Weekly Timeframe Bitcoin

On the Daily timeframe, we have fallen back to the bottom of the range (red box) that we have found resistance & support at for several months. We have also fallen below the red trend line after a sharp drop & then moved sideways along the support line.

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

It looks like this drop is our first test of the 8-week SMA & increases the odds that recovering each of these key SMAs is going to be a slow and grueling process rather than the quick and painless one we hoped for.

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