Riding The Wave Weekly Outlook #63

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Table of Contents

1. Tweets

2. What’s Happening Now?

3. What Might Happen Next?

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Tweets

whalechart 🐳 @WhaleChart

BREAKING: ​SEC chair implies crypto exchanges may not be ‘qualified custodians’ as new rule is drafted

DIRTY BUBBLE MEDIA, KFC @MikeBurgersburg

This letter, sent yesterday by Senators Warren, Van Hollen, and Marshall to Binance and Binance US, is absolutely devastating. They are flat-out accusing Binance of fraud and money laundering. This is not good for CZ. warren.senate.gov/imo/media/doc/…

Autism Capital 🧩 @AutismCapital

Tomorrow may be a big day for Silvergate. Our eyes are glued. 🍿

Bitcoin Archive @BTC_Archive

BREAKING‼️ UAE "Free Zone" to explore #Bitcoin payments for corporate registrations, office rent and other services - Cointelegraph h/t: @IrinaHeaver

Watcher.Guru @WatcherGuru

JUST IN: $185 million has been liquidated from the #crypto market in the past 45 minutes.

The Kobeissi Letter @KobeissiLetter

Timeline of #Crypto Crash Today: 1. Coinbase suspends Silvergate payments 2. SEC says crypto exchanges not "safe" 3. Crypto․com suspends Silvergate payments 4. FTX confirms $8.9 billion in missing funds 5. Crypto loses $200+ million in hours This can't be a coincidence.

whalechart 🐳 @WhaleChart

BREAKING: UK banking giants Santander and Lloyds in restricting customers' ability to buy Bitcoin and crypto

whalechart 🐳 @WhaleChart

BREAKING: U.S Senators including Elizabeth Warren accuse Binance of facilitating $10 Billion in payments to criminals

Watcher.Guru @WatcherGuru

JUST IN: Crypto․com suspends USD deposits and withdrawals via Silvergate.

unusual_whales @unusual_whales

"If I'm right, then the average inflation rate is not going to be 2%, it's going to be 6%. And the losses we saw last year in bonds and equities, it's going to be more severe in the years to come," per Nouriel Roubini.

Joe Burnett (🔑)³ @IIICapital

Bitcoin is simple. During parabolic bull markets it feels like BTC won't stop going up. However, once it's clear Bitcoin is in a bear market, wait until almost no coins are active, and accumulate. When there are no sellers, price begins to drift up 📈.

Bitcoin Archive @BTC_Archive

NEW: Dubai announced a new legal framework for #Bitcoin & crypto operators in ambitious plan to become global hub‼️

Bitcoin Archive @BTC_Archive

BREAKING‼️ Global payments giant Blackhawk will offer #Bitcoin gift cards at U.S. retailers! https://t.co/ekf0Q3iCnv

Bitcoin Archive @BTC_Archive

JUST IN‼️ Currency Crisis in Nigeria is fuelling #Bitcoin adoption - Forbes It’s happening…

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What’s Happening Now?

Bitcoin(BTC)

Bitcoin has been rejected from the 50-week SMA, as it has been for the past two weeks.

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.

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

Ethereum(Eth)

Etheren has behaved similarly to Bitcoin and has been rejected for the past three weeks from its 50-week SMA.

Weekly Timeframe Ethereum

On the daily time frame, Ethereum has reached 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 fallen down to its 20-week SMA where it is finding support.

Weekly Timeframe Cardano

On the daily time frame, Cardano has continued to bounce around the 5th resistance area.

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?