Good news for Steemians everywhere: STEEM and SBD are surging higher and look ready to resume their uptrends. On an even better note, SBD is clearly outperforming STEEM and the ratio is coming back out: 1 SBD now buys 1.2 STEEM, up from less than .95 earlier in the week.
The worse that ratio gets, the harder it is for new Steemians to stack STEEM POWER and grow.
Anywayz let's take a look at the charts ...
SBDUSD
SBD seems to have finished its incredibly deep correction from $18 to sub 3 and now appears to have broken out of a Bullish Wedge Pattern. Pair has just breached the $7 mark and looks set to surge higher towards 8.90 over the coming sessions:
I have it on good authority from @furious-one, who has it on good authority from some gnarled old drunken trader he met in a bar, that Bullish Wedges always retrace 100% back to the peak of the wedge ie $18.
On top of that, that guy who's permanently bullish everything made a call for $40 the other day ... That might be complete bollocks, but you never know and realistically, posting is mighty rewarding even with $4 SBD - anything else is just a bonus!
Technically speaking, a 100% retrace makes sense and fib extensions would be huge from there so that guy could be right. I remain bullish SBD above the recent lows, below there and the party's probably over.
STEEMUSD
STEEM has also had a good morning against the buck and bulls will be looking to push the pair to new highs over the coming days and weeks. Pair is currently testing the 50% of the recent correction at $5.88, with a break higher targeting $6.60 and $7.62, and the 100% retrace/all time high at $8.96 beyond there.
Once again, it would take a breach of the recent lows to invalidate my bullish bias ....
Looks like smooth sailing ahead folks - though keep your wits about you none the less!
Ya get me blood?
Word.
Man, I hope so, I just don't see how it wouldn't unless a competitor arises out of nowhere.. is there any competitors for STEEM?
how far behind is Steem will it hit plus 80%
Yes Steem will hit $1500 per coin by April trust me
/s
Wow great high number why do you think so?
I was joking
this hope is good but is not possible
That would be great!
sbd again overtake steem
Steem and SBD to the moon soon! I believe such a good quality community will be rewarded for their willingness to share, teach and exchange information. As a man sows, so he shall reap.
@bulleth I like the technicals too and yes the STEEM and SBD are back to go visit the recent Highs.................
Very exciting news my Friend! I'm encouraging my Family, Friends and Clients to purchase Steem and join Steemit! I strongly believe that the sky is the limit! The Steemit Community is such a very kind and helpful Community! Joining Steemit is one of the very best things that I have ever done for myself! It is exceptional how we get compensated for our creativity and sharing of our knowledge! And most important we get to give back to our Community with upvotes! It is so GREAT! Steemit truly is the Caring Social Network! Warm Wishes! All the best! Positive Energy! Great Karma! Please keep in touch with your Friend @extraterrestrial :)
ok!!
I don't need a song, just dancing to the sound of SBD!
The biggest fear and disadvantage for new Steemians is 'The worse that ratio gets, the harder it is for new Steemians to stack STEEM POWER and grow.'
This is why the news you brought above is so heart-warming.
lol you want it all for you?
i trust steem and sbd will be extra bullish this weekend and many steemians are gonna enjoy the smooth ride and laugh at fuders who wished steem to maintain a lower than 90cents mark. nice analysis and send a Martini on the rocks to our drunken friend! Thanks for sharing
Things can only get better with Steem and SBD 😌😌
Whether it makes it all the way back or not, it's still nice to see Steem ans ABD making some moves that aren't just "following Bitcoin." I'm quietly hoping that 2018 will become "the year of the alt coins."
Those South Koreans are mad bastards. God bless 'em.
That wedge is about complete.. rough week for sure. Appreciate the insight. Been holding a bunch of SBD waiting for that ratio to spread
This is heart-warming prediction @bulleth
STEEM TO DA MOON! STEEM DOLLARS TO MARS!
Thanks for that confident post. I have been getting worried about the SBD to SP ratio being so bad, its hard enough for we minnows at the bottom of the pond. Looks like good news though
your rewards come partially in SBD so then you exchange that into Steem at a 1.4-1.5 ratio and you use it to buy steem power, not too bad to me.
A few days ago, SBD to SP was down to 0.90ish so I was a bit concerned
I guess it fluctuates depending on what is used the most as exchange. Please check my last post from today on SBD to complete bulleth view.
Very encouraging. But as you say, as the speculative orgy resumes it's harder for newbies to build up STEEMPOWER and power on
Alternatively you could toss a coin to see if the old drunk trader has got it right. If he hasn't then a lot more people will be joining him at the bar to drown their sorrows
(
)
Image source - 'Dude! Where's My Car?'
All rights remain with the original
copyright owner
Baller analysis, nuff said.