Riding The Wave Weekly Outlook #67

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Table of Contents

1. Tweets

2. What’s Happening Now?

3. What Might Happen Next?

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Tweets

Plan©️ @TheRealPlanC

#Bitcoin ✍️ Bullish cross confirmed 👀 Historically, the cycle low is already in! #crypto #btc

PlanB @100trillionUSD

#Bitcoin momentum is real, no bull trap

Game of Trades @GameofTrades_

Banks have been experiencing massive liquidity squeeze amidst the banking crisis Borrowing from the Fed's discount window has hit the highest level EVER seen

unusual_whales @unusual_whales

First time home buyers face the least affordable market on record, per Bloomberg.

Rekt Capital @rektcapital

#BTC has performed a breakout of the Macro Downtrend 396 days before the April 2024 The same amount of days as the April 2019 Macro Downtrend breakout $BTC #Crypto #Bitcoin

Rekt Capital @rektcapital

Tomorrow, the #BTC Monthly Candle will have closed above the Macro Downtrend to confirm a new Bull Market $BTC is on the very cusp of making history #Crypto #Bitcoin

PlanB @100trillionUSD

Almost there. Last chance to buy below 30k?

Rekt Capital @rektcapital

#BTC is on the cusp of confirming its first Quarterly Bullish Engulfing Candle since early 2020 Historically, Quarterly Bullish Engulfing Candles have preceded multiple quarters of upside $BTC #Crypto #Bitcoin

Watcher.Guru @WatcherGuru

JUST IN: 🇺🇸 US government to sell 41,500 #Bitcoin ($1.18 billion) connected to Silk Road, in four batches this year.

Rekt Capital @rektcapital

#BTC The worst is behind us already The best still lays ahead $BTC #Crypto #Bitcoin

Santiago Capital @SantiagoAuFund

This is admittedly a tough one but see if you can spot the contradiction here

PlanB @100trillionUSD

#Bitcoin adoption is ~1% Growth from 0.01% to 0.1% to current 1% has been invisible to anyone not looking at logarithmic scale. But the next 10x from 1% to 10% will be very visible, even to linear people (that is 99%) .. the vertical is coming🚀

Watcher.Guru @WatcherGuru

JUST IN: 🇩🇰 Denmark's Supreme Court rules #Bitcoin profits are taxable.

Jim Bianco biancoresearch.eth @biancoresearch

Powell spoke today to a Republican congressman group (he does that for both sides). No cameras. Republican staffers are saying he told them the Fed would hike one more time this year. Fed watchers are surmising that Powell would never say this (I agree). What they THINK he… https://t.co/aj8MYFva3e

Emily Brooks @emilybrooksnews

RSC Chair Kevin Hern on what Fed Chair Jay Powell said about number of potential rate increases - expect one more this year. Full Hern quote: "He shared with us that all of the governors meet once a quarter to discuss that and they write down on a piece of paper you know (1/2)

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What’s Happening Now?

Bitcoin(BTC)

Bitcoin has moved sideways after hitting $30k.

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

Bitcoin has continued to find resistance at the bottom of the 6th 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 is still above all 4 of its SMA’s and is still finding resistance at the $1900 mark.

Weekly Timeframe Ethereum

On the daily time frame, Ethereum is still in the middle 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 pushed up above its 8-week SMA and is approaching its 50-week SMA.

Weekly Timeframe Cardano

On the daily time frame, Cardano is at the top of 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?