SBD update 09.01.18
SBD seems stable for now. If this count is correct, we will see a steady rise in SBD again soon.
It is not clear yet, if yellow wave 2 is done or not, but it will likely be done tomorrow.
I am happy to see, that the strong correlation between BTC and most alt coins seems to be weakening. A lot of coins have shown to follow their own counts, rather than always following BTC (or even worse were those coins that always inversely followed BTC).
We are seeing less and less of that previous behaviour, which is a good development, especially for STEEM. If STEEM is a non correlated coin, it will be able to reach new highs regardless of BTC mooning or crashing.
I'll keep you updated... stay tuned...
NON RELATED UPDATE: I am experiencing transaction broadcast errors again(meaning I can't upvote or post properly, because it takes a lot of time or even doesn't go through. Be smart and copy your content before posting, or it could be lost. It might be DDOS attacks again -.-
.png)
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.
.png)
MUST READ!
DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. 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 (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
For full disclosure: 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 own responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept to never hold me accountable for any of your losses.
Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...
Have a nice day :-)
hi @ew-and-patterns, I see you are leasing more and more steempower, wise decision you make I would say :), I hvae 1 question, the market right now says steem is 4.9$ and will be even more down today or so, and sbd is lower then on your chart: 6.6$. How do you think how low this correction will go? Will we be seeing nice UPs soon?
Take a look at the update that I posted a minute ago.
ok thanks alot, what about steem?
Oh so true ! It’s great to see steem and sbd not be directly influenced by what happens to Bitcoin! I have one question ? Is there any chance that SMT will have to be purchased with SBD only! Kind of like peerplays did last year. Thus increasing the need for SBD? Looking forward to you thoughts.
That is an interesting thought, but I think SMTs were created to drive the demand for STEEM, and not SBD.
True , I try to think outside the box sometimes. I can only imagine everyone rushing to sell steem to get SBD to purchase SMT. It would be crazy this possibly tanking the price of steem and it would take many steem to get one SBD. Just one of many wild thoughts in my little brain!
Thanks for the update sir, I'm just being positive that it will steady rise soon.. :)
I am totally relying on you here - the reason i keep my SBD since days instead of directly selling to steem - hit me with your updates. I have the impression I know you.
As they say in Russia, a grandchildren run away from their grandfather!(mean altcoins and bitcoin)). Subscribed on you - allways interesting in Elliot's.
Thank you for your daily job for us. I am now studying trading, and understand that this is a great work. You are doing it to keep up to date with beginners like me. It is a good thing. And this is a good opportunity for me to compare my forecasts with a forecast professional, which is so important in learning.
In my thought, as steem price has as up trend as well as the Bitcoin. But the slope of Steem is more sharper then Bitcoin. So steem price will govern in equation. So SBD is going to increase with time for each steem.
i waiting for it to go back to the $15 that was its all time high, this will be big for us who have both steem and SBD
Great analysis work. I agree with you. SBD come back strongly. Following you. Thanks
Truly SBD is getting stable this time around.i have been checking it in steem market ,it is gradually on increase.thanks for this update.i will stay tune to tap from your wisdom .