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RE: Steem Backed Dollars: Approaching a MAJOR resistance. (SBD/BTC)
Thanks for the insights. New follower.
If the resistance line is surpassed, do you have any predictions where it will top out?
Thanks for the insights. New follower.
If the resistance line is surpassed, do you have any predictions where it will top out?
After a breakout of a major trend pullbacks should take place. It's hard to tell an exact target because SBD is very spikey and waves needs to unfold (brekout has not happened yet)
However, i've done a fibonacci ratio analysis for you to point out key levels to be tested and accumulation/distribution areas.
Reflex point would be my short term top prior to a pullback to the broken line before continuing to higher highs.