Because many of you requested an update on SBD, here it is...
Bad times for SBD HODLers like myself. As you already know the exchange ratio for SBD/STEEM sucks right now. And it will likely get worse before it gets better...
I think we are still in the basin phase of wave Z. Ideally SBD would hit 1.17$ and start exploding from there.
Why 1.17$? Because it would be a double bottom on top of the low of wave 2 of white wave 1, which led to the first explosion to 18$ in August 2017.
I have a lot of money bet on SBD outperforming STEEM within the next 12 months. I am not panicking. In fact if SBD hits 1.20$, I am happy to buy more SBD.
It's a low risk, high reward situation, if you have the balls to hodl no matter what... Remember that SBD cannot ever drop below 1$ for an extended period of time. It is designed this way. There is no other asset that I know of, which has a defined bottom of 1$.
To be honest SBD remembers me of early BCH movements:
I made my choice and I stick with it to the end.
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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.
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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 :-)
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I’ve been a seller of SBD on a weekly basis for months and plan to continue that trend. I’m not predicting prices, I’m taking the cash flow and diversifying my portfolio. I dedicate 0% of my portfolio to holding SBD. Not that I’m passionately against it, I just thought I’d throw the opposite opinion in the ring.
Thanks a lot for your valuable information you gives us,but i have a question,do you think that correction will take a lot of time before it ended?
No, I think it should not take more than a months anymore. It already is a 9 month correction...
I am more of fundamental trader. Recently, I started STEEM/SBD trading due to its low risk and quite obvious profit. However, last couple of hours took me by surprise. SBD is taking hit against STEEM, Its nice to see a TA (double bottom pattern) and cyclic nature of SBD. That means the trend can be easily reversed.
The fundamental benefit for high SBD price-- the higher SBD price, the higher one gets reward in terms of USD (or STEEM). Another advantage was universal acceptance of SBD by bid bots. However, these days most bid-bots accept STEEM. Moreover, SBD is not enlisted Binance and Huobi like Upbit.com.
Around 10 hours back I saw a whale or few whales bought more than 12K SBD at 1.278 and 1.286. If those whales have tricks and enough power (i.e. money), SBD will be pumped back soon, two finger crossed!
One of recent blog on SBD's fundamental: https://steemit.com/steem/@riseofth/curious-case-of-steem-dollar-it-is-now-lagging-steem-compared-to-its-recent-history
Another interesting event, both SBD and STEEM is disabled for more than 6 months at HitBTC. In last week SBD is pumped to insane 0.0045 BTC or $36 (very low volume) at HitBTC: https://steemit.com/sbd/@fundurian/sbd-super-pump-in-hitbtc-hitbtc-sbd
Excellent advice mate. I’m also a SBD hodler which I regularly send to my exchange in case the bulls activate again.
Steem on!
Thank you for the analysis. I'm also in the mindset of holding and building up SBD then waiting for the next big run up to sell.
Great TA! Thank you for the info and I agree about not worrying if Steem gets back down to previous lows. If it does it means everyone can get more Steem at a great discount! I am all for a good bargain!
$18 would be sweet!! I only really learned about Steemit a few months ago so I haven't known anything other than the current price but $18 would be a nice pump! haha
Follow and an upvote from me!
Thanks. I am talking about SBD here not STEEM. SBD hit 18$ while STEEM only hit 9$.
Usually both coins rise together.
Oops, I meant SBD! I guess even if SBD was at $4 right now it wold still be a great discount compared to the highs! :)
I salute your confidence. You remind me of me betting by entire portfolio on BCH on the day of the fork and walking out with a 3 times bigger portfolio while everybody was trashing BCH all over the place. I'm still more bullish on BCH that BTC.
I really wish people would realize the difference between a price floor and a peg.
I'm holding my all earning from steemit into SBD.
And I also made my decision I'll hold like you.
You cannot peg an asset that is freely tradeable on exchanges. It was intended to be pegged, but the fact that it hit 18$ shows that it is not. At least not anymore.
first of all, I'm feeling happy to get a reply from you, you never ever replied to my any of comments.
If you making a good comment I will always reply. I don't reply to questions that can be googled, or imply that I have a crystal ball. I am making educated guesses, I am not a magician.
Some days I get 80 replys. No time to answer everyone.
Thank you :)
I was getting down when I saw sbd going down and down but your post gave me some hope.
yeah, i can understand sometime we can't reply due to our busy schedule.
I am also one of the SBD #HODLER. Hope it will come up with a surprise for all of us. I am also not panicking and will wait for the situation to be in a good state. Thanks for the update!
Thank you.
Yes of course, SBD sucks now, but with the way am seeing it, its gonna rise to an unimaginable height trust me, your post has been resteemed and followed...nice one
good..best of luck.
Wow that last graph. It almost looks the same.