SBD update 02.01.18
The end of SBD correction is near. Again, hurry up and wait syndrome at its best. That was a nasty and frustrating corrective pattern (nearly one month inside the triangle).
Not many know whats coming, but you reading this right now can get ready for this. STEEM took the lead again, but is now likely in correction mode again... but SBD is soon ready to explode.
Mathematical target projection of 1.618 the length of yellow wave 1 is 37.3$ for yellow wave 3!
Yes, this is not a typo... I mean it.
If you see a bullish wick below the lower triangle line, you know whats coming next ;-)
Get ready... and stay tuned.
Update: I think there will be an update post today or tomorrow. It is looking very promising for the count. I am getting excited already.
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If you think this to be useful information:
Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
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DISCLAIMER: I provide trading ideas using EW and Pattern analysis. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas are. The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions.
If you make any trades or investments after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...
Have a nice day :-)
Ich schreibe in einem alten post wegen nicht sehen usw.
Ich upvote jeden tage 4-5 post die du machst mit 100% das sind zwichen $ 3,80 - $ 4,80 mit meiner SP. Deine 5% upvotes geben mir knappe $ 2 es wäre cool wenn du mit etwas mehr % upvoten würdest da ich immer nur ein Post pro Tag mache.
Thanks for the analysis. I have no clue why these pattern forecasts have any real-world value but I really do like the outcame you predict.
Why do you think people buy SBD? I have seen a demand 4x higher than the offers on Bittrex.
They will buy SBD like they buy any other coin. It has a very small supply and the peg is gone. Dan Larimer confirmed it in a recent interview. Just another pump and dump coin for a quick profit.
This is the reason why it stayed close to 10$ for a whole month now. Do you think that's weird? I think its normal and after the pattern is complete it will likely rise a lot in value.
I don't really know what you mean by "a demand 4x higher than the offers on Bittrex". Do you mean what is visible on the bid and ask side of the order book? If so, don't be fooled. Limit orders are not what actually moves the market. Market orders can be 10x higher than what is visible in the order book... Only market orders which you can't see or predict move the market.
Thanks for the explanation. Yes, that is what I meant with 4x more demand. I guess I was fooled by that after all.
So when you say SBD has become a pump and dump coin, do you think that the price will plummet after it hit your $37 target? Should I put my SBD on auto-sell at that area on Bittrex or keep hodling?
The usual standard target is 37$. This means that if it turns out to be a normal impulse, it will likely be reached. But it can also fall a bit short on the target or exceed it a lot. This depends on the internal wave structure.
If by plummet you mean a normal market correction from 37$ to 20$ for example, then yes. After wave 5 of yellow wave 3 there will likely be a bigger correction which could take a few months. But this also means that SBD will stay in a range of yellow wave 3 and the the low of wave 4 correction for months.
My prediction is that if it reaches 37$, it will not fall as low as 14$ again in 2018.
Auto sell is not recommended because it could exceed it a lot. Just watch my SBD updates which I do regularly.
That is very good news! I will put my phone on price alert and regularly check your updates.
One more question: I am selling my coins on Bittrex and will end up with Bitcoin. I wonder if I should rather keep that in Bitcoin for a while or immediately exchange into Steem. I am not really interested in other coins no matter how profitable they might become. right now the ratio SBD to Steem is not great but when SBD shoots to $37 and Steem stay below $10 than the ratio would be amazing again. What is your take on that?
I think the ratio will be a lot better soon. I am waiting for that, too. Just hodling my SBD until the exchange rate is 3.5 or better again. The best I've seen yet was 5.2 STEEM for one SBD.
Exactly, I will sell most of my altcoins in a few months (depends on the next BTC impulse) too and put some in STEEM and some in cash.
For me, STEEM is too high to buy at the moment.
Great, that will help me to develop a plan of action now. Your advice is greatly appreciated!
I'm exactly your opinion. I think the SBD will go back in the mid to long term. I made a post about SBD price, SBD supply and inflation. https://steemit.com/steem/@sevenseals/new-chart-steem-dollar-price-and-steem-dollar-supply-calculation-of-sbd-inflation
@ew-and-patterns I was a Stock Broker for most of my career over 26 years and I love technicals and I have to agree with what could soon be happening. It is Very Exciting. SBD will blow everyone's mind.
And they say don't invest more than what you can afford to loose. I'm currently writing a post on this. Hopefully it'll earn me a bunch of SBD/STEEM. From the look of things wave 5 could easily hit $70 or more. That would be just epic.
Proud to HODL.
Thanks for the Update!
Elliot waves are my New Years resolution :) I’m following along and look forward to reading more of your analysis.
I’m a price action and support resistance type of trader and when my analysis lines up with others like this, it’s always good to see.
See you around in 2018!
I'd better put in some ridiculously high limit orders pronto! I need a new laptop and I'm willing to spend 50 SBD on it 😄
I have been trading forex for the past 3 years but I must admit trading using waves was never my strongest tool. It would be incredible to see SBD break the $15 mark. It would probably mean people buying large quantities of SBD of the exchanges.
All the same I am holding my SBD long term. I hope this works out.
Beautiful past and mid term analysis. Disnt spot the triangle myself! I was thinking of cashing in some SBD for bitshares while we linger around the $10 mark - seems like whatever coin youre holding now is going to go nuts in the near future!
In your last posts you predicted the same but it was $34
No one knows why sbd is raising .. comparison to steem sbd has less market cap hope steem should reach sbd place in future :)
Thanks for update
Yes, because now the starting point of wave 3 is likely gonna be 3.3$ higher than I expected. 34+3.3=37.3