Riding The Wave Weekly Outlook #23

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

Table of Contents

1. Tweets

2. What’s Happening Now?

3. What Might Happen Next?

---

Tweets

Senator Cynthia Lummis @SenLummis

We’ve been teasing it for months, but the time is almost here – a proposal to fully integrate digital assets into our financial system. Excited to finally unveil this effort next week. Stay tuned 👀 👀 👀

Watcher.Guru @WatcherGuru

BREAKING: New York Senate has passed a bill to ban #Bitcoin mining using carbon-based energy.

Watcher.Guru @WatcherGuru

BREAKING: 🇯🇵 Japan has passed a bill that recognizes the legal status of #stablecoins with investor protection demands.

Watcher.Guru @WatcherGuru

JUST IN: Block has partnered with Apple to integrate Square payments with 'Tap to Pay' on iPhones.

Will Clemente @WClementeIII

Right now 5x more countries have “banned” Bitcoin (10) than have made it legal tender (2) Stats like this make you realize how early we really are.

The DeFi Edge 🗡️ @thedefiedge

Win More in Crypto: • Don't ignore the FUD • Study Cognitive Biases • Keep buying blue chips. • Take profits when you're up • Size your bets appropriately • Find some friends & grow together. • Don't lose interest during 🐻 markets And always be learning.

Alex Krüger @krugermacro

This is very well put blog.bitmex.com/shut-it-down

Bitcoin Archive 🗄🚀🌔 @BTC_Archive

💥WOW! 😍 10% OFF Chipotle when you pay with #Bitcoin

Bitcoin Archive 🗄🚀🌔 @BTC_Archive

💥BREAKING: Chipotle now accepts #Bitcoin 🌯😋🌯

Blockworks @Blockworks_

NEW: Kanye West files trademarks to launch NFTs around his YEEZUS brand

Callie Cox @callieabost

The trickiest part about this recovery: Stocks may not fall much further. But they may not bounce much higher either.

Wallet Guard @wallet_guard

🚨 CRITICAL ALERT A severe 0-day vulnerability called #Follina has been exposed (since May 27th) in MS Word Documents. It could allow hackers to take full control of your computer, in some cases WITHOUT even opening the file. 🧵

Bitcoin Archive 🗄🚀🌔 @BTC_Archive

💥SOROS FUND CEO: #Bitcoin has crossed into the mainstream.

---

What’s Happening Now?

Bitcoin has spent another week hanging around the $30k mark after a brief push upwards where it almost touched the 8-week SMA. Even though we pulled back down we are still currently a green weekly candle for this week which as you can see from the below chart we haven’t had for over 9 weeks. We could still see a drop before Sunday when the candle closes leading to another red but hopefully, we will break this trend.

Weekly Timeframe Bitcoin

On the daily time frame, we have broken into the resistance box which we were previously finding resistance at when we were trying to break through. It now appears to be functioning as a small support level.

Daily Timeframe Bitcoin. Red/blue boxes are potential areas of support/resistance, blue line represents downtrend we seem to be following, yellow line represents 200 week SMA, white line represents potential support that is trending up due to people averaging in over time

---

What Might Happen Next?