The hour view for Facebook
- At the time of this writing, the price of FB is Down $ -0.26 (-0.08%) from the hour before.
- That is a reversal the price movement in the previous hour in which the price rose.
- If you are a trend trader, keep in mind that the strongest clear trend on the hourly chart is in the 50-hour time frame.
- The moving averages on the hourly time frame suggest an inconsistent price as the 20, 50, 100, and 200 are all in a mixed alignment – meaning the trend is inconsistent across the time frames, suggesting potential Opportunity for Rangebound traders.
Facebook’s hourly price chart is shown below.
The day view for Facebook
- Currently the price of FB minus $ -3.11 (-0.94%) from the day before.
- This train is a reversal from the day before when the price rose.
- Regarding the trend, note that the strongest trend exists in the 100 day timeframe.
- Price action traders should also note that we are seeing a pin-bar candlestick pattern on Facebook. Given that we are seeing an upward trend over the 20 candlestick period every day and that such candlestick patterns often indicate reversals, this may be worth mentioning.
- The daily time frame moving averages suggest a bullish price as the 20, 50, 100 and 200 are all in a bullish alignment – meaning that the shorter durations are above the longer duration averages, indicating a solid uptrend.
Below is a daily price chart from Facebook.
Recommended Facebook idea from TradingView
Below is a trading comment titled Bitcoin Crash 2021 that you may find interesting:
Bitcoin has been on a roller coaster ride for the past week. It crashed more than 50%! So what’s next? What is causing the bitcoin crash? Is bitcoin still a good investment? Cryptocurrency Markets Crashed 50 Percent What’s Next? So what happened Bitcoin gained a lot of popularity in late 2020: it rose from $ 10,000 to $ 42,000 in 4 months before crashing 30% to $ 28,000 in late January 2021. And then, in February 2021, Elon Musk added fuel to the fire by saying that Tesla TSLA bought $ 1.5 billion in bitcoin and plans to accept that as payment for its cars. As a result, Bitcoin surged over $ 60,000. At the time, it seemed that more and more companies were jumping on the cryptocurrency bandwagon. In late March, PayPal announced it would allow cryptocurrencies as payment, mainly Bitcoin, Ethereum and Litecoin: Bitcoin will hit new highs of more than $ 64,000 if some investors take profits, which is perfectly normal. Bitcoin drops to $ 48,000 but quickly bounced back to $ 60,000. Why is Bitcoin crashing? Bitcoin Crash 2021: What You Need To Know: On May 12, 2021, Elon Musk tweeted: Tesla has suspended vehicle purchases with Bitcoin. We are concerned about the rapidly increasing use of fossil fuels for bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel. Cryptocurrency is a good idea on many levels and we believe it has a bright future, but it cannot be achieved at great cost to the environment. Tesla will not sell Bitcoin and we intend to use it for transactions once mining moves to more sustainable energies. We also look at other cryptocurrencies that are using
– rockwell trading
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