Steem & SBD Analysis - 2018-02-06
Steem is meeting support levels
Steem is nearing at least two (2) support levels: 65k satoshi and 49k satoshi. The 65k sat is quite a strong support because it is also a support or resistance at least twice in the past, Sep – Dec 2016 and May – Jul 2017.
The 49k sat is the support from the Fibonacci retracement as seen below. As both the MACD signals are also nearing zero, we could assume that Steem is nearing, but not yet in, it’s bearish phase.
SBD is in bearish phase
Sadly, SBD could be said as in it’s bearish phase. The Fibonacci retracement and the MACD are both broken. As a steemian myself, I would encourage other steemians to hold on exchanging their SBD to Steem for a while if it’s possible for you.
As with other altcoins, SBD seems to move in conjunction with Bitcoin. Hopefully we could see a reversal in crypto market prices.
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So you do believe steem and sbd will go back up? How long do you think that will take? We haven't see like a dip this low in awhile. Hope it corrects soon. Thanks for sharing!
Frankly speaking, I don't know how long should we wait. :) Nobody could have known. Long term, the price is a definite up, because we are using a good technology with huge community. Short term, as you are trying to cash out to buy desktop, I can only say that Steem and SBD will move along side the crypto market as a whole.
yea sadly but true, if bitcoin goes up so does the rest. thats just how it works. thanks for your input :)
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