Riding The Wave Weekly Outlook #76

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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/burrytracker/status/1664377872524668929

https://twitter.com/WatcherGuru/status/1664610854300536834

https://twitter.com/therationalroot/status/1664406660834787328

https://twitter.com/callieabost/status/1664348079368073216

https://twitter.com/WatcherGuru/status/1664080389286121472

https://twitter.com/nickgerli1/status/1663952603724611584

https://twitter.com/GameofTrades_/status/1663938395041849346

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What’s Happening Now?

Bitcoin(BTC)

Bitcoin is still finding support on its 200-week SMA, and its 20-week SMA has also moved up to provide pressure as well. It has been rejected by its 8-week SMA, so if it continues to get squeezed between the 3 SMA’s, we might see a break out in price.

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 sideways within the 5th region.

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 between its 8-week SMA and its 20-week SMA, but it is attempting to break through its 8-week SMA, which is functioning as resistance.

Weekly Timeframe Ethereum

Ethereum has continued within the 8th region.

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 is still below its 20 weel SMA, but it is attempting to break through it.

Weekly Timeframe Cardano

On the daily time frame, Cardano has continued to hover at the top of the 5th resistance region.

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?