STEEM DOLLARS (SBD) - Nice triangle - Break Out soon
Hello all,
You have to be cautious with this analysis because I'm still notre sure that SBD, which is alo impacted by the STEEM witness, is moving like other cryptos.
However, I detected classic patterns on the chart, so let's try a trade with the STEEM DOLLAR (SBD)
The SBD is forming a nice triangle pattern :
As always no one can be 100% sure of the direction that the Break Out will take. My opinion is that we will have a UP Break Out but the safest way to trade it is the following :
- Wait the start of the Break Out (UP or DOWN)
- Enter your position by following the trend
- Determine your profit target when you know the price of your entry
- Wait and adapt if needed your profit target to sold your position with I hope a nice profit.
I wish you massive profits,
Cryptopassion.io
Disclaimer : Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
Version française ici : [FR] STEEM DOLLARS (SBD) - Triangle en formation - Break Out imminent
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How a witness can influence the price? i would like to understand this, thanks.
Steem blockchain "prints" some percent of SBD for every STEEM token in each block. Witnesses can regulate this percent to be higher if SBD price is higher than expected. More cap = less price overall.
In short story. It is more complicated in real :)
Thanks for explaining this. Is there anyway to get a read on what witness are going to do in advance?
Thank you of the info. I was not aware about that part. But why the SBD is still so high so?
¯\_(ツ)_/¯
I was thinking the same thing. If SBD is supposed to be around $1, it's kind of weird to me that it's been increasing so much
Why is the process controlled by witnesses? If the point is to regulate SBD to the $1, shouldn't it be possible to determine the rate automatically?
The witness are deciding which interest rate they give to the SBD (look your wallet, you will see an interest rate defined). The lower is the value of the SBD compared to 1$, the more they will increase the interest rate to try that people stack them. But now that we are higher than 1$, the interest rate is at 0 but they cannot do something more to my knowledge.
Thank you, it is not so easy to understand all the mechanism. thanks.
increase is due to overall increase in crypto market
Analysing SBD price is pointless, cause of its self-regulation versus dollar price :/ I would like to see if above works
This is what I was thinking but in that case why we are not yet back to 1 dollars?
The witness are adjusting the interest rate of SBD but to my knowledge, there is no other regulation.
Do you have some info about it?
Anyway I think it will be a nice test.
It can take days, maybe a week to self-regulate. For me it's perfect time to sell all SBDs. Let's just see
very curious to see what happens,
i had assumed it would have corrected back down by now...
this is kind of a problem for people that use steam dollars to cash out there profits
Hm, internal steemit market?
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60% up, good pattern, thanks for share.
nice post my friend steem is starting to take position! (sbd- 1.5 dollars wow!!)
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