Can SBD breakout the trendline?
Steeem Dollars has been corrected down since it reached $16.57 high. Price went down as low as $2.2 where it found the support, confirmed the 86,5% Fibonacci retracement level applied to the corrective wave up after the uptrend trendline breakout.
After rejecting the support price went up and broke above the downtrend trendline , went back and rejected it. At the moment it looks like the price is likely to continue rising although it remains unclear whether it is a long or a short time trend.
The first resistance is sen at $6.7, confirmed by Fibonacci retracement level, 61.8% applied to the corrective wave after breaking the downtrend trendline.
The value of Steem Dollars on the market is one that confuses me to no end. Not that they have value because SBD can be used to acquire Steem. What I struggle with is how SBD can have a higher value than Steem. To me Steem is the token that drives the entire Steem blockchain and that all as we know it is run on. SBD although used as rewards and and payouts doesn't seem to have any other real function. Its most true value comes when converted to Steem and then ultimately powered up. However, we have been seeing SBD out perform Steem on the market for quite some time. Now, for me I see this as a fantastic thing. This has created an incredible buying opportunity for Steem. We are all getting great value on our conversions right now as I personally see Steem being the higher value currency in the long term.
i'm holding my SBD because I believe we will see even higher highs than before. just have to be patient.
I bought $1k of steem today, I was frustrated that I couldn’t generate over $0.01 in upvote value to curate articles and support my followers.
Looking at this gives me more comfort that powering up my steem amount was a good investment. Thanks again tradewonk!
thats really a great news its my first time being in your post and i got some great knowledge and you got a new follower!
SBD supply is almost doubled in last two months and its increasing with rise in steem price. I don't think SBD again cross 10$ mark in future.
wow .. nice analysis .. i always like your charts because your chart is easy to understand.. keep it up good work .. thanks for sharing.. @tradewonk
I think the price of SBD will increase to $7,6 for 1 month.
hello brother how are u after a long time i read ur blog so sorry first i actually was busy in work :)
now i think it will go up till monday but not sure whats your opinion
i think so
@tradewonk Thanks. Do you have a link where we can learn more about how to read the Fibonnaci etc.?
Here is Fibonacci explained https://www.tradeciety.com/how-to-use-fibonaccis-in-your-trading-effectively/
I love the speculation about Steem. I don't quite follow some of the more technical details or predicting. I am thrilled though that it is up from $3. I joined when it was over $10, so it is still down from there, but I don't see any reason why it wouldn't get back over $10.
I like this prediction. Let's see how far it goes
Hi @tradewonk My opinion SBD is too low market cap. It is only 50 million usd. I think it have to be 500-600 million usd market cap. So I think the investment in SBD will make money.
I have a lot of confidence in SBD and Steem, I think they will pretty much shadow bitcoin for now. Long term, who knows?
good post about sbd, thanks for share the informative news.
You got a 7.95% upvote from @buildawhale courtesy of @tradewonk!
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nice post, i like it.
done resteem u
Eres un capo gracias por la informacion
I still don't understand what you can do with steem that you can't do with SBD. Some people said you have to change to SBD to steem and them to SP, but I think you can do it directly sbd to sp on blocktrades.....
I really hope SBD keep raising
Since I tracked the sbd price and viewed the price chart over the past several waves. I believe that soon the price of sbd will be up again.
SBD price is going back to the good old days, but this time with a bright future :D
I think we might see a 7$ SBD very soon and then we need to stabilize and create a strong support line so we can go to the moon.
Hi @tradewonk, I loved your post and I'm really enjoying the type of content you post. Maybe it's a good strategy to hold SBD for now and it keeps getting high.
Cheers, @davidfumo