Fundamentally SBD can be whatever price it wants to be at. The mechanism to keep it at $1 is fundamentally flawed. Once we know that, then we know that factually SBD is not pegged to the $. USDT is pegged to the dollar. This is why SBD typically floats around $1.00
TA does not take into account how useful SBD is.
Fundamentals do, everything beyond the fundamental is price action.
If there is no fundamental reason that people should have SBD, then you should be more careful because the hammer can drop once the sentiment goes away.
But if fundamentally steem was growing way way faster then it could issue SBD, and the need to spend SBD was very very high, then you know that the sentiment is unlikely to reverse.
let me just repeat this, there is no fundamental basis for SBD to be $1.00. There is no mechanism to pegg it to the $. The mechanism only encourages SBD to not be below $1.00. Therefore it can be as high as it wants. but people shouldn't be a fool and ignore the question of why is the demand for SBD so high.
This is about trading for me personally, so I don't see any foolishness in using TA to have a forecast that allows a coin you own to rise 18x it's previous value. Then I sell it. I don't need to know anything about it actually, not just not knowing why it is in demand. I actively ignore news, rumors, and explanations like this....because they mean nothing to the value I just pulled out of this coin.
There are coins that are valuable and useful.
There are coins that are valuable and useless.
There are coins that are worthless and useful.
There are coins that are worthless and useless.
The first half of the first two statements is all that really matters when actively trading.
i agree with the trader mentality. You dont care about anything other than the price action, which TA does a great job at reading. If there is volume, there is sentiment, and all you want to do is ride the wave.
If anyone has ever actively traded stocks, they will know that the best stocks to buy are always the one that have the most volatility and you should be happy with buying a little late, and selling a little early, making a profit and turning a blind eye to everything else.
Trading is not for the weak stomach.
From a trading perspective, I totally agree, but from an investment perspective, TA isn't the end all be all.
I prefer to let the Wave count tell me when to buy in, and generally that's when volume is at it's lowest, and everyone says the coin is dead. Ladder in, take profits in wave 5 of 1 of 1 of 1 of 1 of 1, then ladder in at terminal end of wave C, take profits in wave 5 of wave 3 of 1 of 1 of 1 of 1 of 1. Ladder in at terminal end of wave C, take profits in wave 5 of 5 of 1 of 1 of 1 of 1 of 1. Large correction, ladder in at terminal end of wave 2 of 1 of 1 of 1 of 1 of 1......and so forth.
I disagree, that is the absolute best way to invest as well. Take BTS for example....I'll take profits on every wave 5, but I'm buying back in as a 2-5 year investment (give or take), maybe less depending on how quickly the world adapts, at which point we will see a price range over $300 in the final wave of the set of 5 waves....each containing lower orders of 5 waves in which you can build a fortune.
It's fine to disagree, and I do. The TA will let you know if a company is headed to the shitter or not long before the news will....or the company's CEO.
And again, I reiterate.....it's not a blind eye, it is a very calculated decision to ignore what people "think" is going to happen, and to listen to what the sentiment is as produced through the price pathway.