Riding The Wave Weekly Outlook #65

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Table of Contents

1. Tweets

2. What’s Happening Now?

3. What Might Happen Next?

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Tweets

unusual_whales @unusual_whales

Investors have funnelled more than $120bn to US money market funds over the past week, the highest weekly inflow since 2020, per FT.

Plan©️ @TheRealPlanC

Probably a coincidence. #Bitcoin

Plan©️ @TheRealPlanC

An objectively comparable #Bitcoin accumulation phase, both in severity and duration. If you are reading this post, congrats, you survived the bear market. #crypto #btc

Root 🥕 @therationalroot

NEW INDICATOR: if we look at the distance of price from the Short-Term Holder cost basis, we can spot the orange trendline (bottom). We can then transfer this trendline back into the price chart currently providing a bottom of ~$15k and rising. #Bitcoin

The Kobeissi Letter @KobeissiLetter

Current situation: 1. Tech stocks up like we avoided a recession 2. Oil prices down like we are in a recession 3. Regional banks down like the banking system collapsed 4. Big banks up like the banking system is fine 5. Bonds up like the system is collapsing Nothing adds up.

James Lavish @jameslavish

With the 'sudden' onset of bank insolvency and credit risk, it seems a good time to peek at the US Treasury’s *own* financial position. Take its debt temperature, so to speak. This is a long but really important one, so saddle up and settle in. It's time for debt 🧵👇

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What’s Happening Now?

Bitcoin(BTC)

Bitcoin bounced off of the 20-week SMA and shot through all 4 of its 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 once again in its 5th 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)

Ethereum has followed Bitcoin and shot above all 4 of its SMA’s.

Weekly Timeframe Ethereum

On the daily time frame, Ethereum is now in the middle of the 8th resistance area once again.

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 hasn’t seen as meteoric a rise, but it has reclaimed its 20-week SMA.

Weekly Timeframe Cardano

On the daily time frame, Cardano is still in 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?