Riding The Wave Weekly Outlook #26

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Table of Contents

1. Tweets

2. What’s Happening Now?

3. What Might Happen Next?

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Tweets

Blockworks @Blockworks_

JUST IN: Goldman Sachs wants to raise $2 billion to buy Celsius' assets in the event of a bankruptcy Source: @CoinDesk

Watcher.Guru @WatcherGuru

#Ripple CEO says "if we lose our lawsuit with the SEC we will leave the United States entirely."

The DeFi Edge 🗡️ @thedefiedge

Don't believe their lies

Altcoin Daily @AltcoinDailyio

Cardano $ADA Founder @IOHK_Charles educates & charms the hell out of US Congress. 🇺🇸

Watcher.Guru @WatcherGuru

JUST IN: Snoop Dogg & Eminem have released a new music video featuring Bored Ape Yacht Club.

Plan©️ @TheRealPlanC

At the current trajectory the Pi-Cycle Bottom Indicator would cross and signal on July 9th, 2022. 🚨 I am not saying that will be the bottom, I am just sharing data. #Bitcoin #Crypto

Watcher.Guru @WatcherGuru

JUST IN: Cardano founder Charles Hoskinson proposed to the US Congress a software-based #crypto regulation system.

otteroooo @otteroooo

BREAKING NEWS: LEAKED LOAN AGREEMENT BETWEEN ALAMEDA & VOYAGER SHOWS "BAILOUT" MORE A GIMMICK THAN A LIFELINE Otter covers this explosive revelation in detail below 🦦 👇🏼 🦦 👇🏼

Dr. Jeff Ross (Pleb counselor) @VailshireCap

I’m not convinced that high inflation is here to stay throughout 2022. The Fed is clearly trying to engineer a rapid and severe summertime recession, which will serve to massively destroy demand and possibly lead to shockingly swift & strong deflation. Then, breathtaking #QE4.

TechDev @TechDev_52

The #Bitcoin 2M supertrend flipping red has marked the points of greatest upside opportunity over the last 7 years.

Plan©️ @TheRealPlanC

The Pi-Cycle Bottom Indicator that I just posted crossed and signalled on the day of the 2015 market bottom and 2 days after the 2018 market bottom. It looks like we should see a cross sometime within the next 60 days. Can it approximate the #Bitcoin bottom in real time?

Blockworks @Blockworks_

Bank of England: Crypto crash survivors could become tomorrow’s Amazons and eBays

Stack Hödler @stackhodler

Putin just gave a speech with massive implications for #Bitcoin and global macro. We won't read a word of it in Western media, so I pulled out the interesting bits 👇

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What’s Happening Now?

Bitcoin is just barely below the 200 week SMA which historically has been an amazing location to buy. It is hovering just above $20k & finding support for now.

Weekly Timeframe Bitcoin

On the daily timeframe, we appear to be bouncing between the lowest support/resistance areas.

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?

Historically the 200-week SMA has been the point where Bitcoin has found support and moved upwards, unfortunately, all of these instances have happened in strong financial markets meaning this time could be different.