Riding The Wave Weekly Outlook #58

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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 Fear and Greed Index @BitcoinFear

Bitcoin Fear and Greed Index is 54. Neutral Current price: $23,120

The ₿irb Nest @TheBirbNest

1/ Let's kick off with a weekly chart! From the long-term technical standpoint, $BTC is presently trading above the most critical 200-day moving average, which until the recent breakout, represented the bear market trend. Now the price broke and got over this bearish trend. So,

Mitchell 🚀 @MitchellHODL

No doubt we've entered the late stages of the bear market. A record % of the supply is in the hands of long-term holders, who have no intention of selling. Short-term traders will begin FOMO'ing in once their cost-basis is back above the aggregate market cost-basis.

Watcher.Guru @WatcherGuru

JUST IN: Tesla reveals none of their $245,553,000 #Bitcoin was sold in Q4 2022.

whalechart.org @WhaleChart

JUST IN: ​Arizona Senator Wendy Rogers introduces bill to make Bitcoin legal tender in the US

Ki Young Ju @ki_young_ju

#Bitcoin entered into the early bull phase. cryptoquant.com/dashboard/63c8…

Erica Wall @ercwl

we're so fucking back

whalechart.org @WhaleChart

JUST IN: ​Celsius considers issuing a ‘Bankruptcy Coin’ to pay creditors

Bitcoin Archive @BTC_Archive

#Bitcoin Golden Cross Approaching: 50D Moving Average about to cross the 200 DMA. Bullish!

whalechart.org @WhaleChart

$1.48B in Bitcoin options expire on Friday. Will BTC hold $22K?

Blockworks @Blockworks_

Porsche added a checkbox asking users to relinquish their right to return their NFTs... If this checkbox didn't exist Porsche would have to refund users within a 14-day period of minting, according to UK law. Even if the floor price was 0.

whalechart.org @WhaleChart

BREAKING: ​Crypto giant Grayscale to face SEC in court to push for converting its Bitcoin investment product Into ETF

whalechart.org @WhaleChart

JUST IN: ​Sen. Ted Cruz Wants to force capitol hill vending machines to accept crypto.

Autism Capital 🧩 @AutismCapital

BREAKING: The full 116 page unredacted FTX creditor list has been released. It is docket #574 found here. restructuring.ra.kroll.com/FTX/Home-Docke…

whalechart.org @WhaleChart

JUST IN: California's Department of Motor Vehicles will test the Tezos network for the digitization of car titles as NFTs.

Rekt Capital @rektcapital

Historically, #BTC tends to bottom around a year after its previous Bull Market peak It’s been a year since the November 2021 top If there ever was a time to pay attention to the market to position yourself for maximum Return On Investment… It is now $BTC #Crypto #Bitcoin

PlanB @100trillionUSD

Realized return just popped positive! Sellers are now taking profit (green) instead of cutting losses (blue) .. big difference🚀

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What’s Happening Now?

Bitcoin(BTC)

Bitcoin has continued to push higher and is now approaching both its 200 and 50-week SMA.

Weekly Timeframe Bitcoin (pink line = 8 week SMA, green line = 20 week SMA, yellow line = 50 week SMA, red line = 200 week SMA)

On the daily time frame, Bitcoin has broken through the 3rd resistance area and is now consolidating in the 4th area.

Daily Timeframe Bitcoin. Red/blue boxes are potential area support/resistance, blue line represents the downtrend Bitcoin is attempting to break through

Ethereum(Eth)

Ethereum has moved sideways since last week, with only its 50-week SMA above it and the other three below it.

Weekly Timeframe Ethereum

On the daily time frame, Ethereum is continuing to find support at the bottom of the 8th 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 broken above its 20-week SMA and appears to be establishing it as support via retesting it.

Weekly Timeframe Cardano

Cardano is still within the 5th resistance area, although it has trended slightly upwards.

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

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What Might Happen Next?