Riding The Wave Weekly Outlook #77

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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/KobeissiLetter/status/1667153151160471554

https://twitter.com/thedefiedge/status/1667150422719729664

https://twitter.com/WatcherGuru/status/1667160433457807370

https://twitter.com/FinanceLancelot/status/1667003611233091584

https://twitter.com/WhaleChart/status/1667144495643652097

https://twitter.com/BinanceUS/status/1666996908651323393

https://twitter.com/WatcherGuru/status/1666999965174906880

https://twitter.com/WClementeIII/status/1666887971734269953

https://twitter.com/therationalroot/status/1666894918693052416

https://twitter.com/WatcherGuru/status/1666880836023484451

https://twitter.com/WatcherGuru/status/1666591075232784384

https://twitter.com/callieabost/status/1666793441718673409

https://twitter.com/WatcherGuru/status/1666843862034153475

https://twitter.com/WClementeIII/status/1666655200361209857

https://twitter.com/WhaleChart/status/1666471218357104643

https://twitter.com/cryptorecruitr/status/1666478462213685249

https://twitter.com/GameofTrades_/status/1666444902782124033

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What’s Happening Now?

Bitcoin(BTC)

Bitcoin has continued to find support on its 200-week SMA and its 20-week SMA, even with the SEC’s recent enforcement announcements against crypto.

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. It has now been rejected by its 8-week SMA but has found support again on its 20-week SMA.

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 has dropped sharply below all of its SMA’s after the SEC included it in its list of “securities”.

Weekly Timeframe Cardano

On the daily time frame, Cardano has dropped to the middle 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?