Quick BTC update 22.01.18
Bulls and bears are still fighting. The important line @11021 has not been breached yet:
The 4 hour candles look promising for the bulls. I am hoping for a decision today, but it could also take a few more days.
Altcoins are still in red this morning.
side note: I watched the internal market yesterday and approx. 35,000 SBD were bought with STEEM. I think this might be a new record... Some big guys sold a lot of SBD. One order was for 18,000 SBD and another was 11,000 SBD. But the small guys were sucking up theese orders like it was nothing. Never seen anything like it. I am talking about swarm intelligence here. Those were fixed SBD sell orders so it was a SBD buying spree, not a selling spree.
UPDATE: I will post a new update in the morning. I suspect the panic low is going to be needed. Get ready...
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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.
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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!
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Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...
Have a nice day :-)
Thanks for the news on SBD. Personally I'm more bullish on SBD for the short term. I heard that SBD debt instrument is designed in a way that the debt level doesn't exceed 10% of the STEEM supply. If I'm thinking this correctly the cap on SBD supply is 10% of the total value of the STEEM market cap.
So even with higher inflation, SBD has a lot of space to grow. SMTs would end up creating more demand for STEEM for bandwidth requirements. That's the only way I see tables turning around.
As for BTC I'm still hoping for a long sideways correction for few weeks (hopefully).
Nice !! Noted thanks!!
Happy to help :-)
I think we have come to the end of the downward spiral. Some stability before the upward climb again...
As for SBD, the community is becoming more and more alert to the vagaries of the market. That is why I agree with when you said:
Your post was indeed very informative and educative. Thank you.
Upvoted, followed and resteemed.
Interesting observation on SBD. It’s looking good for the next few weeks!
really helpful information
Don't worry, only my general information purposes were met. I don't feel like I was advised of anything, even though I upvoted and followed.
This is interesting I enjoyed reading your posts looking forward to more of your posts, thanks for sharing keep up the good work.
Call me crazy but I kind of want it to drop to its new bottom so we get this over with haha. That way we will know that moving forward it will be trending upward for a good while so we don't have to keep playing this guessing game for days on end. Great check-in and chart my friend!
Good information ..
Nb.
Upvoted and resteemed!
Thansks dear discuss about the eyptocurrance.