SBD Weakness. At Least we Have the Peg... Right?
Hey guys,
So remember when SBD spiked last week? I was spruiking the fact we need to remember that the coin is a relatively low cap special that still has the potential to pump like this.
However as you can see, it didn’t hold and we’re streight back to the higher time frame support zone at the peg:
SBD/USD Daily
This chart just sums up the textbook bearish price action that the whole market is displaying and as a content creator on this beautiful platform, I can’t help but display some frustration. I know some of you who are left chipping away each day alongside me understand.
That spike and rejection out of the absolute first level of previous support turned resistance is an absolute killer when all we want to see here is some strength. Heck, I’d take anything when it comes to SBD right now.
At least we have the peg...
Right?
✌🏻.
@forexbrokr | Steemit Blog
Market Analyst and Forex Broker.
Twitter: @forexbrokr
Instagram: @forexbrokr
The good and the best thing here is that both Steem and SBD are here for the long term.
That is true.
Not everyone who is invested are though.
Sir good analysis, but in my view it's consolidating now and further down side movement can only be seen if it will go below the current support line.
More importantly the crypto world is now mostly controlled by the big whales, where retail investors are very less...
So more often they don't respect the technicals, but get controlled by the thinking or mood of the big players....
Hopefully a day will come when more retail investors will come into play, so that we can predict the trend.
Thanking you @saswat036
Consolidating at support, because it's the peg?
I have lotsa pegs..... The ones for my clothes are probably the most reliable!
Except when they've been sitting in the sun for too long and get all brittle...