Riding The Wave Weekly Outlook #25

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Table of Contents

1. Tweets

2. What’s Happening Now?

3. What Might Happen Next?

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Tweets

Miles Deutscher @milesdeutscher

Keep an eye on these assets. These are 3AC’s primary holdings. They’ll presumably look to dump during upcoming unlocks.

Plan©️ @TheRealPlanC

Even though #Bitcoin is oversold on basically every onchain metric & TA indicator, it is very hard to call our current level the bottom, because of the current #Crypto contagion risk level.

The Kobeissi Letter @KobeissiLetter

This market is not rocket science. You have a Fed raising rates at the most aggressive pace in history into a recession. Then, you have 8.6% inflation and a housing market that has topped. The Fed knows we are in a recession and they are making it worse. Bumpy road ahead.

Charles Hoskinson @IOHK_Charles

I just received a formal invitation to speak before the U.S. House of Representatives Committee on Agriculture about Blockchain and Cryptocurencies. It will be live June 23rd at 10:30 AM EST if anyone wants to watch it over YouTube.

Plan©️ @TheRealPlanC

1/25 - Part 1, The Real #Celsius Story. Please Retweet 🙏 #Crypto #Bitcoin

Watcher.Guru @WatcherGuru

JUST IN: Regulators in Alabama, Kentucky, New Jersey, Texas, and Washington have launched investigations into Celsius Network.

The Kobeissi Letter @KobeissiLetter

The average bear market lasts 9.6 months and falls 35%. We are just 6.5 months in and down 23%. Now throw in the most hawkish Fed in decades with 8+ rate hikes and a recession. How much lower does this go?

Plan©️ @TheRealPlanC

JUST IN: #Celsius has lowered their liquidation level to 13.6k. #Crypto #Bitcoin

Bitcoin Archive 🗄🚀🌔 @BTC_Archive

💥ELON MUSK: it makes sense to integrate #Bitcoin and crypto payments into Twitter.

Dennis Porter @Dennis_Porter_

BREAKING: Research paper finds that #Bitcoin transactions are “up to 1,000,000 times more energy efficient” than the legacy system.

The DeFi Edge 🗡️ @thedefiedge

One of the LARGEST Crypto Venture Capital firms: Three Arrows Capital. They're becoming insolvent. With potentially $18b under management, this could be catastrophic for Crypto. Here's a timeline of what's going on and the possible consequences: ↓↓↓

Bitcoin Archive 🗄🚀🌔 @BTC_Archive

💥BREAKING: 75% of U.S retailers will accept #Bitcoin and crypto in two years - Deloitte

Josh @CryptoWorldJosh

JUST IN: Jerome Powell said, "either a 0.50% or 0.75% increase seems most likely at our next meeting".

Sean @TeamTravisS

Pay attention!!! This collab is massive!! How many projects are doing collabs with such established brands!?!? Not many that's for sure! This is soooo early for FBM also! If we're able to land such a big collab now, imagine what the future holds! @FancyBearsMeta https://t.co/weNglggYoT

Watcher.Guru @WatcherGuru

JUST IN: 🇬🇧 UK's digital minister, Chris Philp, says the country intends to be a global #crypto center.

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What’s Happening Now?

Bitcoin has broken below the bottom of the logarithmic growth curve it tends to follow (a relatively rare event) and is finding support at the previous cycle high of approx $19,500 per Bitcoin.

Weekly Timeframe Bitcoin

On the daily time frame, we have clearly found support at one of our last support levels based on historical price data. If we fell lower we would break a macro trend of never going below previous cycles’ highest price leading to price discovery downwards or a strong bounce.

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

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What Might Happen Next?