Riding The Wave Weekly Outlook #59

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Table of Contents

1. Tweets

2. What’s Happening Now?

3. What Might Happen Next?

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Tweets

Benjamin Cowen @intocryptoverse

#Bitcoin cycles as measured peak-to-peak 2013-2017 (red) 2017-2021 (orange) 2021-present (green)

Root 🥕 @therationalroot

Drawdown from ATH: -65% Current Block: 774,900 Blocks in Halving: 210,000 Current Block since 3rd Halving: 144,900 #Bitcoin

Miles @JohalMiles

Don't like the reading? Just change the way its calculated. Will be interesting to see how this effects FEB CPI release. Sharp drop off = Risk assets 🚀 $BTC financialexpress.com/investing-abro…

financialexpress.comUS CPI calculation to change for January inflation data | The Financial ExpressThe Bureau of Labor Statistics will change the method of calculation of inflation data from January 2023.

Adrian Zduńczyk, CMT @crypto_birb

This breakout can pave the path for the 2023 big bull

Ponzi Finance @BP_Rising

More evident now that we ARE in "Return to Normal" (highly abnormal) Stage of the Super Bubble. In this phase bubble chaser arrogance returns. Burry bashing is testament. Important to keep in mind that pride always comes before the fall.

Joe Burnett (🔑)³ @IIICapital

How would I attempt to achieve a soft landing? First, I would bet that CPI inflation will continue to ease through supply side pressures residing and energy prices falling. Next, I would slowly start to pause hikes, letting markets run higher to get some breathing room.

PlanB @100trillionUSD

#bitcoin is getting stronger .. halving is coming🔥

Sven Henrich @NorthmanTrader

Yup. And now Powell is suddenly seemingly embracing radically loosening financial conditions while denying they exist. Something is up.

Brian Sullivan @SullyCNBC

Higher interest rates are a huge tax hike on all Americans .. and raise the cost of our soaring national debt. Also: wages will probably come down. All this from a Fed that got it so, so wrong even as of late 2021 ..

Benjamin Cowen @intocryptoverse

So much convergence at $25k #Bitcoin. We have the 50W SMA moving down into $25k. We have the 200W SMA moving up into $25k. $25k also marked the summer 2022 top. The only thing not at $25k is the price of #BTC (for now…)

Root 🥕 @therationalroot

The Fed raised interest rates by expected 25bps. #Bitcoin and #SPX500 remain above trendline!

Watcher.Guru @WatcherGuru

JUST IN: $24,000 #Bitcoin

Rekt Capital @rektcapital

New #BTC Monthly Candle Close has formed a new Lower High on price $BTC #Crypto #Bitcoin

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What’s Happening Now?

Bitcoin(BTC)

Bitcoin has moved sideways since last week and is just underneath its 50 and 200-week SMA’s.

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 is still within the 4th resistance area, although now it’s pushed up slightly to touch the top of the region.

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 slightly upwards, close to its 50-week SMA.

Weekly Timeframe Ethereum

On the daily time frame, Ethereum appears to have found 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 is still above its 8 & 20 week SMA’s but also below its 50 and 200-week SMA’s

Weekly Timeframe Cardano

On the daily time frame, Cardano has gradually pushed up to the bottom of the 6th resistance area, where it may find resistance.

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?