SBD is ready to explode again. The triangle is finally completed. I am expecting a sudden rise in buying volume any minute now (on Bittrex). This should be interesting.
Actually I predicted a bullish wick below the triangle in my last post and as you can see, that is exactly what happened.
All attempts by the witnesses to get SBD back down to a Dollar (they changed the payout rate from 50/50 to 85/15 to increase inflation) have failed miserably!
Instead they pay us even more SBD so we earn more in the short term. NICE!
Please go on dear witnesses... Change it to 95/5 if you want, but you will seem even more desperate. There is no way to beat the price formation mechanism of a market once wave 1 and 2 are done. On the short run, SBD will likely rise anyways and ignore inflation...
If it happens, I will post more frequent updates on the waves up. My gut feeling tells me, that this is gonna be amazing 😎... Stay tuned...
UPDATE: YEEEEESSSS!!!!! BINGO!!!
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Today I want to give back a little, because you guys made it possible for me to write theese blogs.
Feel free to post your best blog in the comment section, that you have written in the last 5 days (BUT ONLY UNDER THIS BLOG, DO NOT POST YOUR LINKS UNDER ANY OTHER OF MY BLOGS!). (I will not flag it, if it is posted under this blog)
IF I like your Post (it can be anything) I will reward it with an upvote ranging from 30 cents to 3$ (which is actually worth a lot more than that, because SBD trades @ 8$ each)
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.
MUST READ!
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 :-)
I am finding it hard to power up with all this juicy SBD out there :). Hope you find my post interesting.
https://steemit.com/crypto/@bssman/why-is-cryptocurrency-so-volatile
I'm a newbie here in Steemit and still get confused between SBD and Steem Power. Now your post is saying our rewards is not 50/50 but 85/15 because of witnesses. Whew, maybe better to leave these things to you and your sort and just blog and comment. I'm following you so I will know when to jump ship on your say so.
My best blog so far is:https://steemit.com/health/@gems.and.cookies/how-i-stopped-smoking-a-personal-account
If you are a smoker or have friends who smoke and they want to quit maybe my blog can help.
Thanks for this post which I think is an encouraging one in terms of cashing out our rewards. Happy New Year.
Hey, at what price will SBD stop it's growth that week do you think?
P.S. Every week I make a compilation of contests and challenges on Steemit. Here is the post for the current week.
Very good chart @ew-and-patterns. When i woke up this morning, i actually saw that SBD will blow soon flowing my chart. Glad to know is not just me reading the charts wrongly. It will be awesome to see it blow so much.
Actually noticed the 50/50 change to 85/15. Was wondering why is that, now i understand.
Here is a link to my blog. I hope you will like it and is worth an upvote from you.
https://steemit.com/popcontest/@ceepee/the-positive-power-of-giving-give-and-experience-that-positive-energy.
Following you right away, am a trader and need this update to do well in trading. Your blog is very useful to me. Thanks.
Thank you @ew-and-patterns. I got your upvote.
It's funny how SBD was supposed to be pegged to the usd, but now it's turned in to it's own altcoin lol I find it strange that people pay more for sbd than Steem? Steem has more real value because it can be used as steem power giving a more valuable upvote.
I think one of the things the traders love about the SBD is that it is in very small supply, and there are not many people with loads of them laying around. It takes takes a long time to create new SBD, since they are only made by authors.
However, Steem has a lot more value to those of use who actually uses the Steem blockchain to interact with each other :)
I am on it and hope it goes back to 0.00070000 BTC or more thanks for the info :)
Have a nice day too!
The rise in SBD has helped me get out of debt and rent a nice apartment. Also, got few money to put into other cryptos and interesting blockchain projects. Generally I don't think it's a bad thing, we should leave it to correct according to market conditions.
And my latest post is
https://steemit.com/poetry/@bania/letter-to-bania-20-you-can-t-die-twice-live-life-right
I didn't know the witnesses were trying to create inflation. I was from the very beginning 100% opposed to doing anything regarding SBD. These witnesses need to learn some free market economics. After the SMTs come and bandwidth is needed, people would start valuing STEEM more than SBD. The market will take care of itself.
Nice to see your predictions being dead accurate. Have you checked Monaco. I've been HODLing it for some time and it seems like it's always channeling for eternity.
As for a post try this one: https://steemit.com/blog/@vimukthi/10-questions-to-make-your-brain-hurt-challenge-2-drag-your-friends-in-and-present-the-most-awesome-answers
Thank you for pointing me to monaco! I instantly bought more and will make an update post about it in the next hour.
Your comment almost made me feel ok about my long HODL fillied with Cup&Handles iSHS and Triangles. MCO is the coin that has given me the best first impressions ever and I won't be surprised if it hit $50 before the end of the month. The fundamentals are rock solid. TenX is going for EU but MCO is focusing more on SEA which is more crypto friendly and has larger population.
Steem breached the lower resistance in the first chart therefore isn’t it a bearish pattern?
This is not STEEM but SBD. No it is a bullish pattern. Other TAs call it fakeout or fake breakout.
You haven't said the best part. If you go longer term, it looks like it's gonna be a wave 3 of a wave3.
Yes that is still possible, but right now people will call you nuts, if you proclaim 70$ SBD. Lets reach 30-40$ first, then we can talk about the bigger picture.
good analysis
could reach 17 dollars?
we will have to wait for it to break the triangle and see what path it takes. Normally this occurs between 80% or a little after, before completing it
While I'll never be a TA god, I do love reading analysis like this. I'll be honest, seeing SBD pump up is such a rush and only serves to get more people on Steemit in the short term, which is a GOOD thing for the long term.
Thanks for the post - informative and enlightening.
Here's one of mine that I'm particularly proud of: https://steemit.com/gardening/@halcyondaze/lion-s-mane-mushrooms-the-crab-of-the-fungi-world
~ Kevin
Interesting analysis. I had no idea management was fiddling with the rewards. Thanks for pointing that out.
As to your prediction, I'm here to learn so I'll be checking that out.
And in reply to your offer of a possible upvote for blog links:
https://steemit.com/life/@digitalfirehose/contrary-to-pop-culture-and-congress-money-is-not-the-sole-motivation-for-productivity
Enjoy...
I was hoping to see a post like this from you today and here it is. Ever since your last one I am hodling and watching. It dropped back below $8 again. All still part of the plan?
Just for this person, she's diagnosed with a cancer. A little help is much appreciated. Thanks mate :)
https://steemit.com/charity/@giemijares/my-schoolmate-in-highschool-was-diagnosed-with-a-malignant-cancer-osteosarcoma-she-needs-our-help-guys
Thanks for sharing! Love that SBD is trading for WAY more than the $1 it’s supposed to be pegged to. I can’t figure out why it’s rising though. Why do people want it? I convert mine to STEEM, and don’t see the value in SBD. I’m still a rookie with the currencies here though so would love some insight. Thanks!!!
One of the reasons why traders want it is because it is in very short supply, and it takes a long time to create more of it. Also very few people have actually stockpiled it (at least before the first rise in price), so it's unlikely that anyone can dump a lot of SBD to crash the price themselves, making it a pretty stable investment. At least that is my take on it, but there can of course be different reasons ;)
Thanks for the insight. That concept makes sense but i can’t see what’s driving a demand. On the site, we use steem and sp for everything so why is sbd needed for anyone? The sbd we get is brand new and in short supply but i don’t see what utilization is has for being something people want? Unless it’s just because it’s a crypto and thus people want it. Lol. It works for us!! I love that sbd is higher than steem!!!
I get what you're saying, and at this point I agree with you. However, back in the day it was worth $1 per SBD, and it has backings to ensure that it's value will never fall below that price. For if you bought it at $1 you had a crypto that could not lose any value, but still gain value, which is a good deal! However, at the current prices I don't get why people still want it.
you got my interest peaked. hmmm will be following to see how it goes
Wokay.... followed ...resteemed ....voted....
this is very interesting, because I also have analyzed that SBD is ready to continue the trend Up after going through price correction in recent weeks. I agree with your prediction @ew-and-patterns
I am a former forex trader, and I understand very little about the elliot wave waveform. thank you for sharing this knowledge is very useful for people who are trading.
it seems like SBD and Steem both have lives of their own. I mean shouldn't everyone be switching their SBD to Steem if SBD is rising higher and higher?
Hi ew-and-patterns,
Steem price is consolidating. What will be good entry price for purchasing steem?
I don't think it will fall below 5$.
https://steemit.com/steem/@ew-and-patterns/steem-update-05-01-17
Nice post up vote you!
https://steemit.com/life/@stephan92/10-tricks-to-fall-asleep-more-easily-45904dce88e47
Hope fully
Good technical analysis
Upvote + Resteemed
nice to see other traders around here ...follow :-)
bro thanks
Is there a rough time frame on a big move like this? The corrections take a long time but the rises are fast.
Hope im not asking too much for an estimate.
Thankyou for your analysis
If the upper trendline of this triangle is breached significantly, I expect my target of at least 32$ to be hit within 5-12 days. This breach is what I am looking at for confirmation.
Wow. 2 weeks would be well worth the wait. Last question(i promise). Is a 'significant breach' past 9.57 on your chart? If not, what number should we be looking for?
Thanks again
11$ is the significant breach level. But the volume already confirms my count, if you saw my update picture. This is a very good sign.
Thanks for the update.
Can't believe I just bought SBD for 7.50 lol. Bargain!
Thanks again
ps great call on the wick.
pps can I ask why you post the USD chart instead of the BTC chart? Could you post both or was it easier to show on USD chart? ie if you update your wave targets could you please do both?
Thankyou!
I will use both charts whenever I think it is relevant. In the case of SBD, both charts are at the same point in time. Wave 2 is about to be done.
I chose USD because the targets are lower. It is a psychological effect that I am using. It is always better to have a lower target exceeded, than a too big target missed. Baby steps... If you can call 32$ SBD baby steps, lol
thanks heaps. Looks like liftoff is underway on bittrex :)
could you give us an elliot wave prediction on this one?
Thankyou!
On which one? The above post is an EW prediction on SBD. haejin confirmed it today by posting the exact same triangle...
sorry I meant on the subwaves.
I just noticed you said you'd update in a day or two. I'll wait.
Thanks
Time to enjoy the ride
I am new and my posts aren’t getting much attention yet. I am still building followers.
This is my latest:
https://steemit.com/bitcoin/@theessential/xlm-stellar-lumens-now-is-the-time-to-buy-stellar-is-on-its-way-to-the-moon
And its even more relevant today with the huge dip!!!
Anyways- its interesting how there is a constant battle to “correct” the price of the SBD. I wonder if it will eventually be ignored and they just let the price fall off the charts. It just seems crazy to me, how much money people are making due to this “flaw”.
It is not a flaw. I believe it is intended, but they try to tell us that it's not. Dan Larimer confirmed that the peg is gone a week ago.
Hmm..I’d never really though of it that way but I think your probably right. Either way, It surely benefits those raking in the SBD or those who invest during the dips.
SBD is saving a lot of people including me. It can only get better
you can explain in a nutshell what kind of triangle it was. in simple words. Thank you
https://steemit.com/cryptocurrency/@coinbizpro/attention-the-kucoin-carnival-is-about-to-begin-discussion
Hope it will sky rocket! I really have invested in steem and sbd, traded all my bitcoins for them.
Awesome!!!
My post:
https://steemit.com/steem/@pablob/do-what-you-can-t-would-you-help-me-to-help-steemit-and-dtube-by-using-casey-neistat-content-to-teach-him-what-he-taught-me
It's not possible to be more agree with this. Lets hope for the best @ew=and-patterns !
I think I know what you mean, but doesn't it also lose some of it's purpose to go up, not that I think is a bad thing, just that it feels a serious bubble effect.
Alright, so just hold the SBDs for a few days now? What do you think is a good point to convert SBD to steem?
https://steemit.com/steemstem/@simplifylife/introduction-to-synapses-and-neurotransmitters
That depends. If my main scenario works out as planned in this post, I will not exchange for less than 3.5 ratio. If not I have to reevaluate soon.
I'm gonna wait for a while then!! In the meantime, constant refreshing of your blog will continue xD xD
Don't do it^^. I usually only write 2-4 posts per day, usually in the evening time in europe UTC+2.
I agree another bullish break is likely, don't forget to power up regardless though!
Hey, i have heard other people saying SBD is the leading indicator for steem, so if SBD breaks out we can expect steem to break out aswell soon after. Do you also believe this?
Thanks in advance!
Also here is a link to my best blog i have written in the past 5 days:
https://steemit.com/netflix/@cabbage-dealer/the-4-best-netflix-shows-to-watch-right-now
No, I think "they" used the SBD pump on purpose to gain the momentum needed for a steady rise in STEEM. To pump SBD is significantly easier than to pump STEEM, because of its short supply. Of course this is not the official narrative, but I think it was intended this way after SF2.
I will keep tab on this prediction, I hope it works fine and interesting.
https://steemit.com/writing/@turpsy/starting-a-new-year-2018-my-appreciations
This is my post, hopefully its usefull infomation :)
https://steemit.com/indonesia/@taqdirul94/kesedihan-dibalik-naiknya-harga-steem-the-sadness-behind-the-rise-in-steem-prices
thank you :)
https://steemit.com/indonesia/@taqdirul94/berawal-dari-kopi
Interesting analysis. I had no idea management was fiddling with the rewards. Thanks for pointing that out.
As to your prediction, I'm here to learn so I'll be checking that out.
And in reply to your offer of a possible upvote for blog links:
https://busy.org/life/@bim.scouting/lessons-learned-from-little-children-15fca45eea1bf
Nice info mr. Thanks for sharing
I was so delighted about the analysis and the possible exciting consequences;)
as the offer of a good cause to vote for a blog that you choose and that you like, it would be something of mine since I am not in a position to not approve any payment for little, but at this moment I do not have anything current written just some of my music themes but those have already passed date and already generated the payment.
therefore I am going to share something of someone who is worth it and a lot, so indirectly I help her, take a look at her, it's worth 100%.
https://steemit.com/introduceyourself/@careywedler/i-m-carey-wedler-editor-in-chief-at-the-anti-media-youtube-personality-yoga-teacher-and-activist-i-m-joining-steemit-to-subvert
Good prognosis! You are very optimistic, dear friend! And if you are really ready to vote, here's my post, look at whether you'll like it.
https://steemit.com/culturevulture/@anna-mi/culturevulture-russian-pancakes-original-photos-and-recipe
Why should it rise? All of the incentives are on keeping STEEM not SBD. SBD isn't used much and usually people just spend it, they don't buy and hold them... so why rise?
I don't get it... pure speculation? STEEM should be higher than SBD.
My reasons are:
short supply
undervalued
just another pump and dump coin
and most important: The waves tell me it will explode.
Everything you do in the cryptospace is pure speculation on that the value will have increased in x amount of time. Nothing special with SBD
I am reading your blogs and comments. Hoh! your predictions are perfect, and it makes me inspired to hold my sbd. But, a little bit afraid, others are saying that it will return to its previous value at $1 ... Is there to be afraid of?. Waiting for your next sbd update. :) Thanks for this.
You never know, but right now it is looking very promising ;-) I will post a new update today or tomorrow.
Thanks for the reply sir... I'm watching the chart on bittrex... Happy to know it's rising. hehe hope it will continue flying. Waiting for your new update. Let's be positive! :)