Riding The Wave Weekly Outlook #42

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Table of Contents

1. Tweets

2. What’s Happening Now?

3. What Might Happen Next?

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Tweets

Bitcoin Archive 🗄🚀🌔 @BTC_Archive

BREAKING: Luxury fashion platform Farfetch now accepts Bitcoin from 37 countries. 👠👗🧥👟

Root 🥕 @therationalroot

Short-Term Holy cost basis. #Bitcoin

Wall Street Silver @WallStreetSilv

Credit Suisse Collapse Confirmed 🚨 — inverse Cramer #JimCramer

Rekt Capital @rektcapital

It took #BTC 413 days to bottom post-2013 It took #BTC 365 days to bottom post-2017 peak If BTC had bottomed this past June 2022 then that would've been just 217 days post-Nov' 2021 peak How likely is it that BTC bottomed in just over half the typical time? #Crypto #Bitcoin

Bitcoin Archive 🗄🚀🌔 @BTC_Archive

BREAKING! 👉 Grayscale just launched a Bitcoin mining investment vehicle.

unusual_whales @unusual_whales

The national grid in Britain has issued a warning about the possibility of forced power outages this winter. Customers may be without power for three hours during planned events.

unusual_whales @unusual_whales

September job cuts announced by US employers 29,989, up 68% vs year-ago

Bitcoin Archive 🗄🚀🌔 @BTC_Archive

NEW! 🤠Rural Texas counties are courting Bitcoin mining companies to boost local economies - TexasTribune

unusual_whales @unusual_whales

By the end of 2023, Morgan Stanley, $MS, predicts U.S. home prices could fall by 7%.

unusual_whales @unusual_whales

This isn't the market bottom, Morgan Stanley, $MS, has said.

unusual_whales @unusual_whales

More than half of CEOs consider workforce reductions over the next 6 months — and remote workers may be the first go to, per MarketWatch.

Bitcoin Archive 🗄🚀🌔 @BTC_Archive

NAMIBIA: 🇳🇦 Central Bank says cryptocurrencies like Bitcoin can be accepted for payment. Global adoption is rising! 🚀

Watcher.Guru @WatcherGuru

JUST IN: 🇪🇺 European Union bans all #crypto assets, accounts, and custody services belonging to Russians.

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What’s Happening Now?

Bitcoin(BTC)

Bitcoin has continued moving sideways and is now touching the 8-week SMA.

Weekly Timeframe Bitcoin

On the daily time frame, we are moving sideways, just above the downtrend (blue line).

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

Ethereum(Eth)

Ethereum is continuing to hold its 200-week SMA.

Weekly Timeframe Ethereum

On the daily time frame, we have continued to move sideways within the 7th resistance area.

Daily Timeframe Ethereum. Red boxes are potential areas of support/resistance, the blue line represents the downtrend we seem to be following

Cardano(Ada)

Cardano is still moving sideways below the 4 SMA’s we are tracking.

Weekly Timeframe Cardano

On the daily time frame, Ada is being squeezed between the bottom of the 6th resistance area and the downtrend it has followed.

Daily Timeframe Cardano. Red boxes are potential areas of support/resistance, the blue line represents the downtrend we seem to be following.

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What Might Happen Next?