Thanks for the analysis. I have no clue why these pattern forecasts have any real-world value but I really do like the outcame you predict.
Why do you think people buy SBD? I have seen a demand 4x higher than the offers on Bittrex.
Thanks for the analysis. I have no clue why these pattern forecasts have any real-world value but I really do like the outcame you predict.
Why do you think people buy SBD? I have seen a demand 4x higher than the offers on Bittrex.
They will buy SBD like they buy any other coin. It has a very small supply and the peg is gone. Dan Larimer confirmed it in a recent interview. Just another pump and dump coin for a quick profit.
This is the reason why it stayed close to 10$ for a whole month now. Do you think that's weird? I think its normal and after the pattern is complete it will likely rise a lot in value.
I don't really know what you mean by "a demand 4x higher than the offers on Bittrex". Do you mean what is visible on the bid and ask side of the order book? If so, don't be fooled. Limit orders are not what actually moves the market. Market orders can be 10x higher than what is visible in the order book... Only market orders which you can't see or predict move the market.
Thanks for the explanation. Yes, that is what I meant with 4x more demand. I guess I was fooled by that after all.
So when you say SBD has become a pump and dump coin, do you think that the price will plummet after it hit your $37 target? Should I put my SBD on auto-sell at that area on Bittrex or keep hodling?
The usual standard target is 37$. This means that if it turns out to be a normal impulse, it will likely be reached. But it can also fall a bit short on the target or exceed it a lot. This depends on the internal wave structure.
If by plummet you mean a normal market correction from 37$ to 20$ for example, then yes. After wave 5 of yellow wave 3 there will likely be a bigger correction which could take a few months. But this also means that SBD will stay in a range of yellow wave 3 and the the low of wave 4 correction for months.
My prediction is that if it reaches 37$, it will not fall as low as 14$ again in 2018.
Auto sell is not recommended because it could exceed it a lot. Just watch my SBD updates which I do regularly.
That is very good news! I will put my phone on price alert and regularly check your updates.
One more question: I am selling my coins on Bittrex and will end up with Bitcoin. I wonder if I should rather keep that in Bitcoin for a while or immediately exchange into Steem. I am not really interested in other coins no matter how profitable they might become. right now the ratio SBD to Steem is not great but when SBD shoots to $37 and Steem stay below $10 than the ratio would be amazing again. What is your take on that?
I think the ratio will be a lot better soon. I am waiting for that, too. Just hodling my SBD until the exchange rate is 3.5 or better again. The best I've seen yet was 5.2 STEEM for one SBD.
Exactly, I will sell most of my altcoins in a few months (depends on the next BTC impulse) too and put some in STEEM and some in cash.
For me, STEEM is too high to buy at the moment.
Great, that will help me to develop a plan of action now. Your advice is greatly appreciated!
@ew-and-patterns exactly how I feel..