BTC is clearly on the way up now. The iSHS pattern is unfolding
This is the bullcount so far:
SBD and STEEM were able to stay strong as well, but I am expecting a correction before the next push up.
The SBD exchange rate could be 2:1 (STEEM/SBD) or even 3:1 in march again... I was betting my money on that since December and I am not selling yet, because it is just starting to look better again. I am still trying to accumulate as much SBD as I can for this occasion.
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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.
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Looking good. The trend has finally changed and we are looking at upward moves which is great. Especially if those were the lows, they were still 6x higher than the same time last year. With all these new users ready to pile in, the sky is truly the limit this time.
I am dumping all my sbd as fast as possible.
I hate to bet against u but i cant see how the sbd price will stay above $1 forever.
Can u explain again ur reasoning?
I have 5 resaons, all technical not taking into account the fundamentals.
Those 6k could be 7k STEEM now or 18k+ STEEM later this year or in 2019. If you are in it for the longterm I think this to be a decent bet.
If you don't have the nerves to follow through (I know it can be painful) then I would start selling above 1.2:1 ratio.
Thank you!
Hopefully his future is better than before
Beautiful information really amazing post thanks for sharing sir....resteemed
I'm waiting too.
I was day trading $DGB and all my sells came in and I missed the 20 sat rise. Then, I was looking at LTC this morning and saying... looks like a breakout pattern. Didn't buy any... and boom! Ah, no big deal. Got all I need. Just reflecting on missed moves. How's the market action going on your end EW?
I am not trading cryptos at the moment. After volmageddon, the DOW is presenting better opportunities in my opinion.
That may be but I don't have the capital to qualify as a day trader as of yet. What's volmageddon?
The VIX imploded a few days ago bringing all equities down hard. Some huge hedgefunds lost billions and some are insolvent now... That is why there is some extreme short betting going on like we have not seen in a few years...
Thanks for explaining. The question I think we're all thinking is: Will a bearish stock market equate to a bearish crypto field as well.
No^^. The money that cant be invested into stocks must flow somewhere. It cant just be parked on some bank account because that is too expensive. It will go into bonds and cryptos.
Hope ur right...
Huge sell-off in the dow. Do you mean you are not day trading cryptos and just holding? I assume so should outperform equities in a bullish environment.
Unless you feel there will be a major top in the Dow and Equities and could kill cryptos as well.
Look forward to your updates on when you feel the major top in the Dow is ?
it is very Interesting your point of view. I am following you from now on.
great post.
Upvote and resteem.
I didn't understand because of some translation difficulties. Do you expect SBD to be 3 times larger than Steem?
Yes. I think we will get 2-3 STEEM for only 1 SBD in the near future.
i just followed you cause your posts seems to be informative you are doing great ,,If you are interested in cryptocurrency visit my steemit for more information @reewy ,, and thank you again for your great posts
my thought is that the 3rd wave in the big cycle has started and we will record a record on it in this year.
That is what we are all hoping for. We will all earn a shitton of money if it happens... But we will only know after a new alltime-high.
thank you for shareing,
you also have a nice day.
Thanks for sharing this @ew-and-patterns, it's always great to see your analysis.
With regards to accumulating your SBD, are you holding it so that you get the best ratio of SBD to STEEM? Thanks again for sharing!
Yes! I think STEEM will hit 50$ sometime in the future (12-48 months) and I want to gather as much STEEM as I can until it happens for cashing out. So getting the best exchange rate possible is key to maximize profit.
Thanks for your insight! I've been valuing STEEM over the past two weeks based off Metcalfe's law, and it has been quite difficult. I'm hoping to combine my figures with some T.A. to get a more accurate price! I'd really appreciate your feedback on my latest post.
Nice to see another match! Here is my wave count on 15 min chart:
Looks like that the targets are more-less same!
I guess the major wave 1 is going to end with the v wave here:
Thanks for your analysis, @ew-and-patterns!
Good luck posts