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Riding The Wave
Riding The Wave
Riding The Wave Weekly Outlook #18

Riding The Wave Weekly Outlook #18

Thomas Holland's avatar
Thomas Holland
Apr 29, 2022
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Riding The Wave
Riding The Wave
Riding The Wave Weekly Outlook #18
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Welcome to Riding The Wave. If you have questions or feedback, please reply to this email. If you are new to the Newsletter, please check out what we provide on our about page and consider subscribing. Within the Newsletter, I provide News Summaries, Weekly Status Updates, & Deep Dive Articles on Specific Topics (Ex: How do I pick which coins/tokens to buy?). More details here

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Table of Contents

  1. Tweets

  2. What’s Happening Now?

  3. What Might Happen Next?


Tweets

Twitter avatar for @TheRealPlanC
Plan©️ @TheRealPlanC
The US. Dollar Index (DXY) is at a 81 RSI and has broken completely out of the bollinger band 🤣 Return to earth coming at some point. #Bitcoin #Crypto
Image
8:13 PM ∙ Apr 28, 2022
939Likes121Retweets
Twitter avatar for @TheRealPlanC
Plan©️ @TheRealPlanC
The US. Dollar Index (DXY), weekly RSI level has only ever been this high on 3 other occasions since 1986. #Bitcoin #Crypto
Image
8:41 PM ∙ Apr 28, 2022
229Likes33Retweets
Twitter avatar for @BTC_Archive
Bitcoin Archive 🗄🚀🌔 @BTC_Archive
💥BREAKING: Panama just passed a law giving #Bitcoin legal status and zero capital gains tax. 🙌
4:51 PM ∙ Apr 28, 2022
19,975Likes3,401Retweets
Twitter avatar for @BTC_Archive
Bitcoin Archive 🗄🚀🌔 @BTC_Archive
#Bitcoin painting the world orange, slowly then… - Panama - El Salvador - Central African Republic
Image
8:00 PM ∙ Apr 28, 2022
6,689Likes1,294Retweets
Twitter avatar for @therationalroot
Root 🥕 @therationalroot
1/2 Current sell-pressure comes from LTH's that bought in the orange area. They are de-risking/capitulating due to macro conditions. Bullish how price has been holding up really well! #Bitcoin
Image
7:48 AM ∙ Apr 29, 2022
246Likes25Retweets
Twitter avatar for @TechDev_52
TechDev @TechDev_52
Most likely #BTC paths I see from here. Leaning #2. Red line marks my Realized Price "mid band" weeklies need to close above. Been dividing line for flat vs. zig-zag corrections for 12 yrs. Path #2 supported by daily volatility squeeze. Last 4 have all gone "wrong" way first.
Image
Image
Image
2:08 AM ∙ Apr 29, 2022
547Likes72Retweets
Twitter avatar for @BitcoinMagazine
Bitcoin Magazine @BitcoinMagazine
NEW: Oklahoma state legislature approved a bill giving tax incentives to #bitcoin miners this week 👏
1:35 PM ∙ Apr 29, 2022
1,233Likes213Retweets

What’s Happening Now?

Bitcoin has continued to try to break above the 8 week SMA again (as can be seen by this and last week’s candle wicks) but it has not yet succeeded.

Weekly Timeframe Bitcoin

On the daily time frame, Bitcoin has fallen below the bottom of the red box and has made an attempt to break back into it. As we are now below the range it has functioned as resistance and so we have continued to move sideways.

In terms of the red line, we have fallen below it & so it will likely end up functioning as resistance if we return to it in the near future.

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

What Might Happen Next?

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