CryptoKraze here
Possibility on 1 hour Chart
If you look at 1 hour chart, you will see Steem dollar has made a big impulsive move and now it has to form a bullish flag. This is very common pattern in crypto currencies, whenever a coin breaks with big impulsive move, it pulls back and wait for some time before making next impulsive move. If we look at RSI, it has gone above 70 level in first impulsive move and has to dip to 50 level now, so we have pull back done and next impulsive move is ready. If we look at bollinger bands, the price has touched upper bands and now it will reach median line and then break above.
- I will have a buy entry at 0.00045500 with my profit target will be around 0.00055000 or above.
- Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void.
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Fingers crossed brotha, let's hope this happens!
that would be great, your analysis are usually right, i hope it does, rise in sbd price has been part of the reason for steemit growth in recent times
I am expecting more growth in steem though but any rise in SBD for some months would be awesome.
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According to Elliott wave theory wave 5 is going to reach a high of as much as $14 per SBD. I feel that the news that justifies this increase of the steem backed dollar is the amalgamation of the return of Graig Grant &Trevon James plus the emergence of Anthony fantano onto the steemit platform. I see all the traits and circumstances necessary to propel dtube and the steemit blockchain on to the mainstream, thereby giving those embedded into this ecosystem the means to affect their community using the power of social media and the blockchain. Thank you for sharing this analysis with us, may you continue to have the energy and passion to provide us with your unique perspective. Namaste.
This is short term analysis normally I do as swing trades. I am expecting 5th wave to take SBD above $20 if whales don't try to keep it down. Let's see
Nice!
Thanks for the update and charts. I am also closely watching SBD.
Interesting post!
Improve the quality of your posts.
at the time f your post price is already 0.00049604 so should we wait to dip it so can get it according to you buying target?
Wait for the flag formation and buy the dips
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