Analysing Facebook chart and overall looks very threatening for them this year!
A halt in buyers with last 3 months declining. I would not be surprised to see $210 by August 2021 at least!
If it recovers from that support area then we review but for now looks to cross down on the monthly MACD for the first time since March 2018 and where it lost almost 35% of its value!
The wedge that is drawn is a bearish signal which is testing lower highs each month and then dropping to support again! We have tested that support a few times but no bounces look overly convincing that it can go for a new ATH!
Plus the value of the company is huge and if it could go higher it would have done it a long time ago at its peak members count!
Watch out for the sneaky bull trap that could follow between pump and dump!
Facebook also really struggling to get positive news lately
Do not take my word for it simply do some research yourself and make your own conclusions this is just my opinion based on my skill set
A halt in buyers with last 3 months declining. I would not be surprised to see $210 by August 2021 at least!
If it recovers from that support area then we review but for now looks to cross down on the monthly MACD for the first time since March 2018 and where it lost almost 35% of its value!
The wedge that is drawn is a bearish signal which is testing lower highs each month and then dropping to support again! We have tested that support a few times but no bounces look overly convincing that it can go for a new ATH!
Plus the value of the company is huge and if it could go higher it would have done it a long time ago at its peak members count!
Watch out for the sneaky bull trap that could follow between pump and dump!
Facebook also really struggling to get positive news lately
Do not take my word for it simply do some research yourself and make your own conclusions this is just my opinion based on my skill set