Riding The Wave Weekly Outlook #81

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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/WhaleChart/status/1677367313090113536

https://twitter.com/WatcherGuru/status/1677354012025188353

https://twitter.com/woonomic/status/1676998096751038464

https://twitter.com/KobeissiLetter/status/1676932612101664768

https://twitter.com/DonMiami3/status/1676753997942738948

https://twitter.com/TheRealPlanC/status/1676756616652234755

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What’s Happening Now?

Bitcoin(BTC)

Bitcoin is on its 3rd week of holding $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 is continuing to stay in the 6th resistance 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 has dipped down to its 8-week SMA where it is finding support.

Weekly Timeframe Ethereum

Ethereum is still in the upper half of the 8th resistance region, although it has moved closer to the midpoint.

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 all 4 of its SMA’s, although it appears to be trending upwards slightly after reaching its market cycle low of $.23.

Weekly Timeframe Cardano

On the daily time frame, Cardano has continued to stay in 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?