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February 21 – The Hong Kong Special Administrative Region (HKSAR) government held a press conference today (February 21) on the long-term housing arrangements for Hung Fook Court. Deputy Financial Secretary Michael Wong stated that the HKSAR government plans to acquire the property rights of Hung Fook Court owners through cash or a property swap, which is the fastest possible solution. The average price per square foot offered by the HKSAR government for the acquisition is HK$8,000 (before land premium payment) and HK$10,500 (after land premium payment), with a total acquisition cost of approximately HK$6.8 billion. After the acquisition, the HKSAR government plans to demolish the seven damaged buildings in Hung Fook Court and redevelop them into parks and other facilities.February 21st - According to data from Maoyan Professional Edition, the total box office (including pre-sales) for the 2026 Spring Festival film season has exceeded 4.2 billion yuan, with "Pegasus 3", "Silent Assassination", and "Boonie Bears: The Big Adventure" ranking in the top three.February 21st - John Weyey, Head of Commercial Hedging at Walsh Trading, stated that golds price action following the Supreme Court tariff ruling indicates that while gold appears to have lost a bullish factor, it still possesses ample upward momentum. Gold initially fell sharply after the news, but the prevailing bullish sentiment quickly regained control. Gold is continuing to rise on its own momentum, and many market participants will maintain this strategy until the market provides a reason to be bearish. Over the past six months, market participants have bought gold for a simple reason: its rising. This is an unprecedented rally, and I believe the market will continue to buy. Even though the tariff ruling has eliminated some uncertainty, gold will continue to rise as other risks remain.February 21 - According to the China Development Bank (CDB), in 2025, CDB issued 786.3 billion yuan in loans to the urban renewal sector, focusing on supporting the renovation and upgrading of old urban residential areas, old streets, old factories, and urban villages, as well as the construction and renovation of urban infrastructure, the restoration of urban ecosystems, and the protection and inheritance of urban historical and cultural heritage. These efforts aim to optimize urban structure, improve functions, preserve cultural heritage, and enhance quality.February 21st - According to the Shanghai Municipal Public Security Bureau, during the Spring Festival, Shanghai police, in conjunction with emergency management, fire and rescue departments, and volunteer groups, implemented multiple measures including strengthened patrols and controls, crackdowns on illegal activities, and widespread public awareness campaigns to strictly enforce safety management requirements for fireworks and firecrackers, ensuring a safe and peaceful holiday for citizens. While strengthening control, Shanghai police also cracked down on illegal transportation, storage, and sale of fireworks and firecrackers. Since the start of the Spring Festival holiday, over 130 related cases have been investigated citywide, with over 150 boxes of fireworks and firecrackers seized, and over 110 people punished according to law for violating regulations.

This Year, Bitcoin Has Stagnated. What is to Come Next?

Alina Haynes

Apr 29, 2022 10:09

Technical Analysis of the Bitcoin Elliot Wave

截屏2022-04-29 上午9.34.49.png

 

Bitcoin (BTC) began the year 2021 at a price of $46197 and is currently trading at $40297. Only a 12.8 percent decline, but everyone is gloomy. Between January 24th and March 28th of this year, it went as low as $32991 and as high as $46669. Almost all of BTC's price activity this year has been limited within a range of $35500 to $45000, with a mid-point of $40500.

 

From an Elliott Wave Principle (EWP) standpoint, sideways markets are the most difficult to anticipate due to the abundance of alternatives. Knowing which scenario is more likely becomes more of an educated estimate than it is when the cryptocurrency is in a much more defined impulse-based upswing. Consider Figure 1.

 

Bitcoin displayed a distinct impulse pattern leading up to the blue Primary-III high in early-2021, and then a distinct five-wave impulse pattern from the June lows to the November 2021 highs. BTC should have topped for a (pink) Cycle-3 wave and is currently in a Cycle-4 wave, according to my larger-picture EWP analysis.

 

I demonstrated in my prior report, which can be found here, that BTC was constructing a more imminent downside setup to $25K for wave-C4. Or if it becomes more problematic due to the famously difficult nature of fourth waves. In today's update, I'd want to take a deep dive into the more complex case. 

Final Thoughts

BTC is currently undergoing a multi-month fourth wave correction of the same magnitude as the wave that concluded in 2018 following the 2017 apex. Fourth waves are perplexing because they can take on at least 12 different patterns. Knowing which of these is which is impossible in advance. At this point, BTC has the potential to evolve into a complex triangle, but three factors must occur in order for it to occur:

  • Maintain a position above the trendline connecting the January and February lows, which is currently located at $36900.

  • Closer to this year's mid-point of $40,500. This reintroduces the possibility of targeting $45,500.

  • A near-recovery of the late-March high of $46669. Then the possible greater a-b-c pattern of wave-B is activated, preferably reaching $60K.

  • As a result, the stage has been set. The conditions are favorable for the formation of a complicated triangle. All BTC needs to do is give the triggers for the "three-step program" outlined above.

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