Because many of you requested an update on SBD, here it is...
Bad times for SBD HODLers like myself. As you already know the exchange ratio for SBD/STEEM sucks right now. And it will likely get worse before it gets better...
I think we are still in the basin phase of wave Z. Ideally SBD would hit 1.17$ and start exploding from there.
Why 1.17$? Because it would be a double bottom on top of the low of wave 2 of white wave 1, which led to the first explosion to 18$ in August 2017.
I have a lot of money bet on SBD outperforming STEEM within the next 12 months. I am not panicking. In fact if SBD hits 1.20$, I am happy to buy more SBD.
It's a low risk, high reward situation, if you have the balls to hodl no matter what... Remember that SBD cannot ever drop below 1$ for an extended period of time. It is designed this way. There is no other asset that I know of, which has a defined bottom of 1$.
To be honest SBD remembers me of early BCH movements:
I made my choice and I stick with it to the end.
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.
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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.
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Have a nice day :-)
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