Riding The Wave Weekly Outlook #27

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Table of Contents

1. Tweets

2. What’s Happening Now?

3. What Might Happen Next?

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Tweets

Rekt Capital @rektcapital

Once #BTC ends its "Downtrend Acceleration" phase in search of a Bear Market Bottom... It will enter is "Multi-Month Consolidation" phase $BTC #Crypto #Bitcoin

Will Clemente @WClementeIII

Bottoming/accumulation signals everywhere, Major funds/lenders going bust, Worst quarter ever, Nocoiner haters dunking on us, Whole timeline saying this time is different. If we are finding an accumulation zone, will likely still see months of boring & capitulation through time.

Bitcoin Archive 🗄🚀🌔 @BTC_Archive

#Bitcoin is about to close -40% in June - the worst month ever! 🤨

Travis Kling @Travis_Kling

I've been doing these for 46 straight months and I've never seen one like this before.

Watcher.Guru @WatcherGuru

Deutsche Bank predicts #Bitcoin will reclaim $28,000 by the end of 2022.

Watcher.Guru @WatcherGuru

JUST IN: 🇸🇻 El Salvador has purchased an additional 80 #BTC ($1,520,000) at an average of $19,000 per coin.

ʎllǝuuop ʇuǝɹq @donnelly_brent

6-month change in US 30-year mortgage rate, 1999 to now

Plan©️ @TheRealPlanC

Puts things in perspective, @AurelienOhayon 👏 #Crypto #Bitcoin

TAnalyst @AurelienOhayon

In the Stock Market (#SPX), since 1877, only 4 years have had a 1st half as bad as the current one. 1877, 1932, 1962, 1970 and now 2022. ALL OF THEM HAD A POSITIVE 2ND SEMESTER. Conclude. #Bitcoin is highly correlated to the stock market : the second half will be bullish. https://t.co/BpZRQR57dj

Pentoshi Powell Jr 🔺🐧 @Pentosh1

In regards to price. We can approach bottom, yes maybe $BTC goes to 12-14k and thus overall value can be found. In regards to time, it could take 2 years of nothingness. History across many assets has proven this time and time again. Assume your patience is tested as base case

Dr. Jeff Ross (Pleb counselor) @VailshireCap

#bitcoin still just chillin' on the underside of its 200-week moving average. 👀

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What’s Happening Now?

Bitcoin hasn’t pushed above the 200-week SMA and is instead staying in the $22,000 - $17,000 range.

Weekly Timeframe Bitcoin

On the daily time frame, we appear to have fallen below the second-lowest resistance/support line and we are now having trouble pulling above it.

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?