The ascending right triangle pattern did not pop yet, which is why there might be a different pattern evolving in SBD.
I zoomed out and saw a possible leading diagonal triangle, which explains this price behaviour perfectly.
In a leading diagonal triangle, a wavecross between wave 1 and 4 is allowed (that is one of two exceptions to the rule).
This pattern usually indicates a huge rise in the coming months. It is a slow and timid start, which will likely bring a rapid increase in value after yellow wave 2 is done.
Although I already HODL a lot of SBD, I am accumulating more funds for this occasion. My guess for SBD (which is based on fibonacci ratios) is still 32$ into late 2018 or early 2019. So if I buy it for 3.2$ or lower, that would be a 10x increase of my money in a very short timeframe. (by the way haejin is betting 42000SBD equal to 130000$ that this will happen... and I would do it too, if I had as much money as he does)
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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.
MUST READ!
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.
Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...
Have a nice day :-)
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Well, you had me convinced. I really respect when people bet with their own money. I've seen some people talk about SBD and I've seen your wallet and @haejin's. If you dare to power down to get into SBD, then I guess it's time I start gathering some money to buy SBD.
Thanks for the Knowledge!
ALL LOOKING GOOD!
Very nice content..
Wow, this chart is great to watch and consisting positive vibes for SBD and definitely i am also eyeing for great future for SBD, let's hope for the great and thanks for sharing this positive post with us and wishing you an great day. Stay blessed. 🙂
Thanks for this information.
I guess I keep holding my SBD for this scenario! Was just thinking about converting some SBD into Steem to push my upvote.
Nice Post!
I would love your feedback on my new post titled ‘Bitcoin, John McAfee, The story of the Sultan and his Flying Horse and why we should pay attention to Warren Buffett’
https://steemit.com/bitcoin/@shenobie/bitcoin-john-mcafee-the-story-of-the-sultan-and-his-flying-horse-and-why-we-should-pay-attention-to-warren-buffett
Cheers,
@shenobie
I'm too holding my sbd's,
I know they gonna rock!
Very interesting. I wish Binance would pick up SBD. They already have Steem, but not SBD yet.
@ew-and-patterns Elliot waves seems interesting and confusing at the same time. I do not know this strategy but see a lot of people using it
Great!
The SBD/BTC chart however really does apply to your previously projected ascending right triangle. I see two bull wicks forming on the daily, ready to bounce on the EMA 55. Exciting!
nice contain
I hope you are right - however I have to sell my SBD now as of some private stuff I need cash on - sad but true.
Schade Uwe, aber du hast ja noch bis Juli / August Zeit wieder neu SBD zu sammeln. Die witnesses lassen ja fast nur noch SBD drucken ;-)
na hoffentlich :-)