Riding The Wave

Riding The Wave

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Riding The Wave
Riding The Wave
Riding The Wave Weekly Outlook #60

Riding The Wave Weekly Outlook #60

Thomas Holland's avatar
Thomas Holland
Feb 10, 2023
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Riding The Wave
Riding The Wave
Riding The Wave Weekly Outlook #60
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Welcome to Riding The Wave. If you have questions or feedback, please reply to this email. If you are new to the Newsletter, please check out what we provide on our about page and consider subscribing. Within the Newsletter, I provide News Summaries, Weekly Status Updates, & Deep Dive Articles on Specific Topics (Ex: How do I pick which coins/tokens to buy?). More details here

Table of Contents

  1. Tweets

  2. What’s Happening Now?

  3. What Might Happen Next?


Tweets

Twitter avatar for @BTC_Archive
Bitcoin Archive @BTC_Archive
JUST IN‼️ 91% of Institutional investors are interested in buying digital assets - BNY Mellon survey 👉#Bitcoin
3:55 PM ∙ Feb 9, 2023
2,069Likes394Retweets

Twitter avatar for @therationalroot
Root 🥕 @therationalroot
Confluence of support at ~20k. #Bitcoin
Image
11:33 PM ∙ Feb 9, 2023
226Likes48Retweets
Twitter avatar for @Blockworks_
Blockworks @Blockworks_
Holders of Rihanna’s “Bitch better have my money” NFT will own a fraction of the song’s streaming royalties. @shaliniX0 reports:
blockworks.coRihanna NFTs Enable Holders To Earn When This Song PlaysNFTs of the latest smash hit song from music superstar Rihanna sold out within minutes and holders are eligible for a piece of the action.
10:06 AM ∙ Feb 10, 2023
214Likes29Retweets
Twitter avatar for @BTC_Archive
Bitcoin Archive @BTC_Archive
BREAKING: Argentina to seek 'proof-of-solvency' from cryptocurrency companies - Bloomberg 🤝
10:54 AM ∙ Feb 10, 2023
1,083Likes153Retweets
Twitter avatar for @KobeissiLetter
The Kobeissi Letter @KobeissiLetter
Until we receive CPI next week, this choppy price action is set to resume. This market is almost entirely focused on what the Fed is going to do. The problem is that not even the Fed knows what they are going to do. Economic data over the next few weeks is extremely important.
4:25 PM ∙ Feb 9, 2023
286Likes39Retweets
Twitter avatar for @WatcherGuru
Watcher.Guru @WatcherGuru
JUST IN: 🇺🇸 US banking giant BNY Mellon says #cryptocurrency is here to stay.
4:19 PM ∙ Feb 9, 2023
8,067Likes1,725Retweets
Twitter avatar for @callieabost
Callie Cox @callieabost
Also, this is an abnormally long bear market if we *don't* end up hitting a recession. In the three bears that didn't overlap with a recession, the S&P 500's peak-to-trough decline took an average of 6 months
Twitter avatar for @callieabost
Callie Cox @callieabost
In bear markets, you typically get your recession quickly. In every S&P bear market since 1950 that overlapped with a recession, the recession started within a year after the peak. Not so much this time around. 13 months and counting🐻
10:44 PM ∙ Feb 9, 2023
10Likes1Retweet
Twitter avatar for @WhaleChart
whalechart.org @WhaleChart
BREAKING: Stablecoin issuer Paxos is being investigated by New York Regulator
8:55 PM ∙ Feb 9, 2023
792Likes185Retweets
Twitter avatar for @AutismCapital
Autism Capital 🧩 @AutismCapital
Today the SEC, IRS, and NYDFS have decided to go thermonuclear on Crypto. Kraken has shuttered their staking services and been fined $30M, they have been issued a summons by the IRS for user data, and Paxos is being investigated by the NYDFS. Rough waters ahead, tread carefully.
9:08 PM ∙ Feb 9, 2023
2,776Likes402Retweets
Twitter avatar for @rektcapital
Rekt Capital @rektcapital
#BTC performed a Daily Candle Close below ~$23400 which preceded a rejection However technically the consolidation inside the triangle (green) continues $BTC may test the Higher Low (green) soon & it needs to hold to maintain this multi-week technical uptrend #Crypto #Bitcoin
Image
4:10 PM ∙ Feb 8, 2023
216Likes23Retweets
Twitter avatar for @intocryptoverse
Benjamin Cowen @intocryptoverse
#Bitcoin currently down 66% from the all-time-high
Image
1:34 AM ∙ Feb 9, 2023
586Likes37Retweets
Twitter avatar for @WatcherGuru
Watcher.Guru @WatcherGuru
JUST IN: Coinbase CEO says he heard rumors the SEC wants to ban #crypto staking.
11:25 PM ∙ Feb 8, 2023
6,368Likes1,173Retweets

What’s Happening Now?

Bitcoin(BTC)

Bitcoin has dropped slightly and will test its 8-week SMA next week if it continues moving downwards.

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 dropped to the bottom of the 4th resistance area and is testing for support.

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 dropped down away from its 50 week SMA and is now approaching its 8-week, 20-week, and 200-week SMA’s.

Weekly Timeframe Ethereum

On the daily time frame, Ethereum has dropped back to the bottom of the 8th resistance area, where it is finding support.

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 to its 20-week and 8-week SMA’s where it appears to be finding support.

Weekly Timeframe Cardano

On the daily time frame, Cardano has been rejected by the 6th resistance area.

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

What Might Happen Next?

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