Riding The Wave Weekly Outlook #70

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Table of Contents

1. Tweets

2. What’s Happening Now?

3. What Might Happen Next?

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Tweets

https://twitter.com/_AustinHerbert/status/1649428887414120450

https://twitter.com/WatcherGuru/status/1649141699757629442

https://twitter.com/rektcapital/status/1649084041415606278

https://twitter.com/intocryptoverse/status/1649080184807514113

https://twitter.com/WatcherGuru/status/1648827603522920449

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What’s Happening Now?

Bitcoin(BTC)

Bitcoin has dropped down to the highest of the SMA’s (8-week SMA) we track to retest for support.

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 failed to find support inside the 6th region and has called into the 5th.

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 also fallen to its highest SMA (8-Week SMA) and is looking for support.

Weekly Timeframe Ethereum

On the daily time frame, Ethereum has failed to find support at the bottom of the 9th resistance region and has fallen into the 8th.

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 back below the 50-week SMA and appears to be finding support on its 8-week SMA.

Weekly Timeframe Cardano

On the daily time frame, Cardano has failed to stay in the 6th region and fallen back into the 5th.

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?