Riding The Wave Weekly Outlook #51

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Table of Contents

1. Tweets

2. What’s Happening Now?

3. What Might Happen Next?

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Tweets

Callie Cox @callieabost

Why not the regular $VIX? Well:

unusual_whales @unusual_whales

About 270,000 homebuyers who bought during the red-hot housing market this year already owe more than their house is worth, per YahooFinance.

unusual_whales @unusual_whales

The world economy is heading for one of its worst years in three decades, per Bloomberg.

Edgy - The DeFi Edge 🗡️ @thedefiedge

If learning DeFi is overwhelming, try breaking it down into a skill tree. Systemize it further by concentrating on one mini skill each week. It makes learning more manageable.

Autism Capital 🧩 @AutismCapital

INSIDER: "RE: FTX Hack, three developers had access to FTX private keys: Gary, Nishad, and Adam Yedidia. Adam was a very close friend of Sam and worked at FTX when everyone resigned. It was an internal understanding that Adam was a successor to Nishad and was set to replace him."

The Kobeissi Letter @KobeissiLetter

JUST IN: FTX has just hired forensic investigators to help find where $10 billion+ in customer funds went. Just a few weeks ago, it was revealed that the Bahamas government was behind a $600m+ hack. Bankruptcy advisors have already called this worse than Enron. This is bad.

Watcher.Guru @WatcherGuru

JUST IN: 🇪🇸 Bank of Spain announces plans to launch an experimental CBDC program.

Bitcoin Archive 🗄🚀🌔 @BTC_Archive

BREAKING‼️ FTX founder under investigation for market manipulation that led to collapse of TerraUSD (UST) and Luna — to the benefit FTX and Alameda Research. 🤔

Bitcoin Archive 🗄🚀🌔 @BTC_Archive

BREAKING ‼️Kevin O’Leary got paid $15 Million to be FTX spokesperson. That money belongs to FTX customers. 🤨

The Kobeissi Letter @KobeissiLetter

Blackstone Last Week: Limits investor withdrawals from real estate fund. BlackRock This Week: “Prepare for a recession unlike any other.” Institutional investors are beginning to accept that a recession is inevitable.

Will Clemente @WClementeIII

It's been an interesting year

Watcher.Guru @WatcherGuru

Sam Bankman-Fried thinks it would be a "productive path" to open the FTX exchange and issue a new $FTT token.

Bitcoin Archive 🗄🚀🌔 @BTC_Archive

JUST IN: 🇬🇧UK’s economic chief wants more investment into cryptocurrency businesses.

SBF @SBF_FTX

1) I still do not have access to much of my data -- professional or personal. So there is a limit to what I will be able to say, and I won't be as helpful as I'd like. But as the committee still thinks it would be useful, I am willing to testify on the 13th.

Maxine Waters @RepMaxineWaters

.@SBF_FTX, Based on your role as CEO and your media interviews over the past few weeks, it’s clear to us that the information you have thus far is sufficient for testimony. (1/3) https://t.co/YUVVjOkC40

Bitcoin Archive 🗄🚀🌔 @BTC_Archive

JUST IN: FTX founder "willing" to testify in front of the U.S House Committee on Financial Services on Dec. 13. No choice buddy... 🤨

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What’s Happening Now?

Bitcoin(BTC)

Bitcoin has successfully broken above $17k and is holding just above it.

Weekly Timeframe Bitcoin

On the daily chart, we are staying at the bottom of the 2nd resistance area.

Daily Timeframe Bitcoin. Red/blue boxes are potential area support/resistance, blue line represents the downtrend we were previously following

Ethereum(Eth)

Ethereum has encountered resistance near the 200-week simple moving average (SMA), but it is possible that we could see it closing closer to or above the SMA by the end of the week on Sunday.

Weekly Timeframe Ethereum

On the daily time frame, Ethereum is currently testing both the downtrend line and the top 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 is currently moving sideways, with its simple moving averages (SMAs) trending downwards toward it. This could potentially push its price lower or make it easier for Ada to break through the SMAs and experience a price rally.

Weekly Timeframe Cardano

We are currently testing the blue line/downtrend that has previously acted as a strong resistance level and pushed us lower.

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?