1 SBD = ₿10,000 Satoshi -- Is the alligator going to walk down looking for food?
(Chart by TradingView)
On February 6-7, the SBD (Steem Backed Dollar) alligator against Bitcoin appeared to drop to around ₿10,750 Satoshi. From there, it would walk up to hunt its prey and then descend again.
Meanwhile, the Moving Average Convergence Divergence (MACD) oscillator has been in a bearish position since early March. This indicates that the price of this asset is falling.
However, the stochastic Relative Strength Index (RSI) oscillator is in oversold territory. In other words, the market price of this asset is already below its intrinsic price.
And now we see the alligator beginning to open its mouth downward. Is it going to walk down looking for food?
Let's continue following this SBD alligator adventure with Bitcoin.