Steem and SBD's are Setting up in Bullish Flag patterns!
The market is remaining very bullish! This is wonderful news for crpytocurrency prices going forward, and fantastic for users of Steemit! :)
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After breaking out yesterday, both steem and SBD's have been forming consolidation patterns in the shape of bullish flags. This occurs when the price of the security is making lower highs and higher lows and is in a tightening range. These patterns are very healthy in a strong market! Also, these patterns tend to end in the same way that they started. What that means is that since they broke out before entering this pattern, they will most likely both breakout to higher levels once again!
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My near term prediction for Steem and SBD's is $6.50 and $9 respectively. Above you can see my anticipated price action! :) As always these are just my besrt guesses and cannot be guaranteed! If they come to fruition however, we have a potential for massive upside from here! :) Thanks so much for reading!
Similar analysis for STEEM/BTC. Momentum has slowed down a bit since huge wick towards the top like that would most likely mean that we'll see price test a support or two before the next rally. However, all we need is a flag within the channel and we can see a really good bullish momentum candle in the next couple of days.
Nice analysis! it was pretty near a double top, but It is still holding a positive trend line! :)
Amazing post! Steemit has restored my faith in humanity. Ill be sure to follow your page and keep up to date with upvoting your content! I'd appreciate a follow or upvote :)
I really appreciate it! I'll be sure to check out your work! It seems we have common interests! :) If you ever want to just talk about this stuff, I am available on Steemitchat!
Really pretty darn exciting isn't it! I'm trading my earnings as fast as they are in my sbd wallet.
It is very exciting! the more profitable steemit is, the more exciting it is to think about how much it could help others! I am looking forward to talking with you and hopefully working with you more on that soon! :)
I agree, the power of this platform to bring good is mind-boggling and I look forward to talking with you about your project.
What do you think SBD will be worth around end of year? I have seen quite a few sayin that 30 is not out of the question.
I have also seen people calling on $30 SBD's... It is a really hard one for me to predict, because I have strong bullish and bearish arguements.. On one hand I think that SBD's have very little underlying value, and so they should not be given such high premiums... On the other hand, they are trading on a technical basis and are treated almost like an Altcoin now. They are also the leading factor behind Steemit profitability, so whales may buy up the price as an investment in the steemit platform. With higher SBD's price, they make more money per post and make back their investment that way. So we could very well see $30 sbd or $1 sbd... I personally cannot say.. But what I do know is that SBD's are trading on a technical basis right now, so I can trade them short term! :) thanks for the question though!
Thank you for your explanation. Will consider it for my hodl or no hodl desition :)
of course! if you have any other questions just let me know! feel free to message me on Steemitchat!
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