Riding The Wave Weekly Outlook #53

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Table of Contents

1. Tweets

2. What’s Happening Now?

3. What Might Happen Next?

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Tweets

Compound248 @compound248

We just discovered Caroline Ellison and Gary Wang turned on @SBF_FTX, rattling him out to the Feds. The SEC’s civil (non-criminal) complaint is built on their participation and gives us our first “insider’s account” of the FTX disaster. I’ve given you 12 key takeaways below:👇🧵

Autism Capital 🧩 @AutismCapital

BREAKING: Caroline Ellison plead guilty to seven charges and faces a maximum sentence of 110 years. Gary Wang plead guilty to four charges and faces up to 50 years. abcnews.go.com/US/sam-bankman…

Heisenberg @Mr_Derivatives

SOMETHING FOR THE BEARS $VIX SPIKES trough to peak in Q1 of each yr: 2014: 85% 2015: 43% 2016: 100% 2017: Null 2018: 457% 2019: 126% (One month prior to Q1) 2020: 636% (Covid) 2021: 77% 2022: 139% 9 yrs of data suggests start of '23 we SHOULD see a VIX spike. ❤️ my bears...

Edgy - The DeFi Edge 🗡️ @thedefiedge

22 Crypto Lessons Learned in 2022 (avoid these costly mistakes):

Watcher.Guru @WatcherGuru

BREAKING: Sam Bankman-Fried to be released on $250 million bail.

Othersidemeta @OthersideMeta

The Otherside is waking up.

whalechart.org 🐳 @WhaleChart

BREAKING: Sam Bankman-Fried’s criminal trial judge is married to law partner of firm that arranged the FTX-BlockFi deal.

Bitcoin Archive @BTC_Archive

🇷🇺 Russia to legalise cryptocurrencies for foreign trade next month - State Duma Finance Committee It’s happening… 🙌

whalechart.org 🐳 @WhaleChart

BREAKING: Russia to legalize crypto for international trade in 2023 to circumvent the Western sanctions.

whalechart.org 🐳 @WhaleChart

BREAKING: Kwon has cashed out Bitcoin for the first time after fleeing to Serbia.

Watcher.Guru @WatcherGuru

JUST IN: Caroline Ellison admits to a judge that she and others stole billions of dollars from FTX customers, WSJ reports.

Watcher.Guru @WatcherGuru

Two US senators propose changing the tax reporting threshold for Venmo, PayPal and CashApp payments to $10,000 from $600.

Watcher.Guru @WatcherGuru

JUST IN: Caroline Ellison admits she and SBF agreed to hide that Alameda Research could borrow unlimited assets from FTX.

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What’s Happening Now?

Bitcoin(BTC)

Bitcoin was rejected by the 8-week SMA & is now in the upper $16k area.

Weekly Timeframe Bitcoin

On the daily time frame, we have found support on 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 is once again attempting to break through the 8-week SMA after it was recently rejected by the 200-week SMA.

Weekly Timeframe Ethereum

On the daily chart, Ethereum has found support on the blue downtrend and is hovering in the upper part of the 6ths 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 continued to decline in price, reaching a price of $0.259.

Weekly Timeframe Cardano

Cardano has moved sideways after being rejected by the blue downtrend, although it is still far from one of its previous support levels at the bottom of 5.

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?