Riding The Wave Weekly Outlook #9
The 8 Week SMA continues to push us downwards but what will happen when we break through?
Welcome to Riding The Wave. If you have questions or feedback, please reply to this email. If you are new to the Newsletter, please check out what we provide on our about page and consider subscribing. Within the Newsletter, I provide News Summaries, Weekly Status Updates, & Deep Dive Articles on Specific Topics (Ex: How do I pick which coins/tokens to buy?). More details here
A small note regarding the Sunday News summary, in place of it I will be doing an article on Monday going over how to set up a wallet on Ethereum and a wallet on Cardano as well as where you can use them (Ex: Cardano staking, NFT buying). This will be part of a test I am doing where I am dividing up a deep dive topic into smaller bites to see if that makes it more enjoyable to read. I am also testing if you all enjoy having regularly scheduled content occasionally swapped out for irregular content.
Table of Contents
What’s Happening Now?
What Might Happen Next?
What does this mean for the bull run?
Tweets
What’s Happening Now?
The 8 week SMA has continued to push us down over the past 2 weeks. As we have discussed previously the 8 week SMA has functioned as resistance ever since we broke below it late last year.
Overall I am optimistic as both weeks it has pushed above the 8 week SMA, it just hasn’t been able to close above it. A close above the 8 week is one of the core things we are looking for in order for people to become more bullish as the 8 week has consistently held as resistance.
What Might Happen Next?
Keep reading with a 7-day free trial
Subscribe to Riding The Wave to keep reading this post and get 7 days of free access to the full post archives.