4/29/2021 2:21:24 PM GMT | By Elliott Wave Forecast Team
In this technical blog, we will look at the past performance of 1 hour Elliott Wave Charts of Facebook ticker symbol: FB, which we presented to members at the elliottwave-forecast . In which, the rally from 14 January 2021 low unfolded as an impulse structure. And showed a higher high sequence favored more upside extension to take place. Therefore, we advised members not to sell the stock & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:
Facebook 1 hour Elliott Wave chart
Above is the 1hr Elliott wave chart of Facebook from the 4/22/2021 update. In which, the rally to $316.25 high ended wave (3) of an impulse sequence coming from 1/14/2021 low. Down from there, the stock made a pullback to correct the short-term cycle from 2/25/2021 low within wave (4). The internals of that pullback unfolded as Elliott wave double three str
Throughout the years I have been writing on Seeking Alpha, many readers have recognized that we have been quite accurate in our market prognostications, yet they have had a hard time understanding the lens through which I view the markets.
I want to first start by stating that in all the years I have been doing research and analysis into financial markets, I have not found a single form of analysis that provides market context as does Elliott Wave analysis. In fact, it was the reason I was so confident in my expectation that the market would exceed the 4000SPX region even though we were down in the 2200SPX region last year.
Parabolic Bitcoin Price Structure In Danger: Cycle Climax Or Risky Reset?
Reading Time: 3min read
Bitcoin price is now below $50,000 for the first time in a month, and despite the still-high prices the market is in a panic. There’s now widespread fear that the current market cycle has peaked and things will soon fall back into a bear phase.
At the same time, there’s a looming bubble about to pop, aggressive tax measures and coming enforcement from the US government, and more that’s recently taken the legs out from beneath the bull run. Is this really the cycle climax, or just time for a long overdue reset?
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