Riding The Wave Weekly Outlook #34

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Table of Contents

1. Tweets

2. What’s Happening Now?

3. What Might Happen Next?

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Tweets

unusual_whales @unusual_whales

The market right now: Link (+ live flow): unusualwhales.com/heatmaps

Alex Krüger @krugermacro

Two things happened overnight a) equity risk off driven by bad German data b) crypto hit air pocket after consolidating at the lows Seems markets moving from focusing on the Fed to focusing on Europe. $ETH is the best performing crypto asset in this dump, not about positioning

Raoul Pal @RaoulGMI

Ah, the old cheeky pre-merge crypto shakeout I see... I don't expect new lows but most likely a gut-check quick drop, but let's see. New lows = keep adding (for me) as 2-year risk/reward gets really, really attractive 50% downside vs possible 10x upside = 20:1 R/R #ETH #BTC

Markets & Mayhem @Mayhem4Markets

How long it takes for a hacker to crack your password in 2022. Lesson: always use strong, complex passwords.

Stack Hodler @stackhodler

Well it was a nice few weeks of "It's the most hated rally" and "everyone's bearish, we're going up" But the bear is back to eat berries and rip faces off. And he's all out of berries. Here are the big macro signals I'm watching that are signaling pain on the horizon 📉👇

The Kobeissi Letter @KobeissiLetter

Current situation: 1. $SPX trading like the bear market is back 2. Treasury yields trading like $SPX is at 5000 3. Housing market topped like the crash has just begun 4. Fed’s raising rates like there’s no recession 5. Earnings are weak like it’s 2001 This can’t end well.

Wall Street Silver @WallStreetSilv

Total mortgage demand hits 22 year low… lower than the real estate crash 2008/2009… but don’t worry, we are not in a recession and the real estate market can only go up…

Watcher.Guru @WatcherGuru

JUST IN: $550 million has been liquidated from the #cryptocurrency market in the past 24 hours.

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What’s Happening Now?

Bitcoin is currently below the 8-week SMA and below the 200-week SMA.

Weekly Timeframe Bitcoin

On the daily time frame, we have shot below the 4th support/resistance level we were in after following the diagonal downtrends edge for several days.

Daily Timeframe Bitcoin. Red/blue boxes are potential area support/resistance, blue line represents downtrend we seem to be following, yellow line represents 200 week SMA

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What Might Happen Next?