Steem Dollars on Cup and Handle with Fibonacci Retracement and 5-3-5 Elliot Wave Theory

Good news for Steemians

Steem Dollars (SBD) begins its rally at $0.97 on November 21. Barely less than 2 months SDB rose to $5.30 due to the surge in market cap indicated as the blue line on the coinmarketcap chart on Fig.1 showing an increase of 446.39% gain. SBD is about to begin a new uptrend after a healthy correction at ABC.

On Fig.2 Elliot Wave 1 is completed and wave 2 is closing on a correction to start wave 3, 4 and 5.
Fibonacci's retracement gives a guide on the path of correction and uptrend to wave 5.

Fig.1 SBD Coinmarketcap price chart

Fig.2 Trading view analysis
https://www.tradingview.com/chart/SBDBTC/THuoR36i-Steem-Dollars-on-Cup-and-Handle-with-Fibonacci-Retracement-and-5/

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