News doesn’t move markets. Markets move the news. And markets aren’t random; they’re patterned. The Elliott Wave Principle describes that pattern.
Here’s a recent example of how Elliott waves helped prepare subscribers for the recent crypto exchange debacle. Here’s what our Elliott Wave Financial Forecast said in August 2022 …
In bull markets, financial exchanges are celebrated houses of commerce enjoying popular exaltation. In bear markets, they are necessary evils that need to be curtailed. This very dependable correlation is the reason we’ve tracked a dramatic turn in the valuation of crypto exchanges over the course of the last 15 months. In classic fashion, crypto exchanges bathed in celebrity associations at the final highs. Some attached their names to major sports venues such as the FTX Arena in Miami and the Crypto.com Arena in Los Angeles. The share price of each of those exchanges is down significantly in 2022. The chart on page 7 of the July issue shows declines of more than 90% in Voyager Digital and Coinbase Global from early 2021 when Elliott Wave Financial Forecast identified them as candidates for steep falls. These selloffs attest to the potential for further declines in crypto…
The Investor Psychology section of this month’s Elliott Wave Financial Forecast provides updated analysis on crypto exchanges. As one EWI employee put it, “The crypto section of FF is worth its weight in anything other than cryptos!!” And a long-time (decades) subscriber said: “Goddamighty, Steve and Pete have outdone themselves on the Investor Psychology section. Congrats to the guys.” Needless to say, you’ll want to read this excerpt.