#SBD analysis
Yesterday I transfer my #SBD which was not a lot but I decided that it was about time to convert it to #BTC for the time being I was hoping to see the #SBD go down. It failed to test the resistance level and now It could go towards the 18k satoshis or even make it to 16k satoshis level. In my vision that seemed to be a goo option as #SBD was going up and then #BTC and #STEEM were falling hard.
https://www.tradingview.com/x/ataPd0S5/
I'm not an expert and I'm trying to get some practice in #crypto analysis for trading purposes.
@raserrano - Developer
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Intertemporal arbitrage, a.k.a., speculation is always very risky. You're betting that SBD will fall faster than BTC, when the opposite may very well happen. Since there are no fundamentals, there is no "right" price ratio. Furthermore, I only use BTC as a medium of exchange for trading for crypto when I have no choice. BTC has fundamental security flaws and has been manipulated. Lately, it seems to pulled by the overall crypto market, but to a lesser extent than other cryptos.
That is a very interesting point of view that I had not consider and I believe there are always drawbacks and side effects on every decision we made along the way.
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I think this is a good trade. More importantly, both the analysis and trade is YOURS. Plan your trade and trade your plan :)
Nice work!
I just need it to go down to 16k sats and already set up my limit order :)