Riding The Wave Weekly Outlook #44

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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

Some 91% of U.S. CEOs are “convinced” a recession is on its way in the next 12 months, according to a KPMG survey of 1,325 CEOs.

unusual_whales @unusual_whales

Investors now expect Fed to raise rates to 5% next year, per FT.

Blockworks @Blockworks_

Google has embraced Web3. But their crypto journey didn't start this year. Let's take a look 🧵 (In chronological order)

Blockworks @Blockworks_

Binance US hires former FBI agent BJ Kang as Head of Investigations - Wall Street Journal

Watcher.Guru @WatcherGuru

JUST IN: 🇺🇸 Average 30-year fixed mortgage rate rises to 7.37%, a new 22-year high.

Blockworks @Blockworks_

Tether USD₮ to be available in over 24,000 ATMs across Brazil

Blockworks @Blockworks_

Coinbase removes commission fees for customers buying or selling USDC via any fiat currency

Bicycle Cards @bicyclecards

It’s official. We aped in. See you on the moon. 🚀 (1/3) decrypt.co/112202/why-137…

Blockworks @Blockworks_

Reddit users created 3 million crypto wallets to scoop up Polygon NFTs Via @decryptmedia

Blockworks @Blockworks_

Fidelity will allow institutions to buy, sell and trade Ethereum on its crypto platform starting Oct 28 Source: @strack_ben

unusual_whales @unusual_whales

JUST IN: Average 30 year mortgage rates hit 7.22%, a 22-year high.

The Kobeissi Letter @KobeissiLetter

BREAKING: S&P 500 FUTURES MARK 90 POINT REVERSAL, $VIX FUTURES TRADE DOWN. Nothing adds up.

The Kobeissi Letter @KobeissiLetter

Current situation: 1. Treasury yields officially above 2008 high 2. Mortgage demand at fresh 25 year low 3. Housing prices falling at fastest rate since 2011 4. Inflation near 10% for the entire year 5. GDP down 2 straight quarters There is no debate, we are in a recession.

Watcher.Guru @WatcherGuru

JUST IN: $510,000,000 worth of #Bitcoin options expire Friday.

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What’s Happening Now?

Bitcoin(BTC)

Bitcoin has continued moving sideways, just below its 8-week SMA.

Weekly Timeframe Bitcoin

On the daily time frame, we have continued at the top of the 2nd resistance area. We have also broken the diagonal downtrend, although we may still break down if extremely negative news were to come out.

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

Ethereum(Eth)

Ethereum is still just barely above its 200-week SMA.

Weekly Timeframe Ethereum

On the daily time frame, we have continued to move sideways at the bottom of 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 has dropped down farther below the 4 SMA’s we are tracking.

Weekly Timeframe Cardano

On the daily time frame, Ada has broken downwards in price, continuing to follow the horizontal downtrend.

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?