Steem Dollar (SBD) Analysis: A Breakout Usually Follows this Complex Combination Correction
SUMMARY
Steem Dollars (SBD) has been correcting in a complex wave count as shown by the blue wxyxz or an ABC as there are almost always more than one way of counting. Given near vertical run SBD had in it's prior impulse, the deep retracement could still morph into a price rounding formation. This would mean an extended sideways action. However, if the blue Z wave is complete, the at the very least, a bounce can be expected.
The reason why wxyxz was selected was becuase the correction is really a complex combination with the final z wave counting as an abcde triangle. Price is very proximal to the apex and the waves seem complete. A breakout usually comes next.
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unless SBD returns to its "supposed" peg to $1 USD. in which case, this is merely hocus-pocus.
Hi @rok-sivante the SBD was never pegged to the USD
It just can not fall below 1 USD but can go as high as the market wants.
And that is the way it has always been : )
Thus the quotes on “supposed,” as per the original white paper.
Truly, Steem and Steemit has extraordinary potential, consider it, there are right around 200 000 dynamic clients right now, contrast that with Facebook with near 2 billion clients and what number of those Facebook clients get paid?
Perhaps. Though then again, what’s the actual business model?
What percentage of those “dynamic clients” are actually spending money, versus just trying to grab a piece of the pie? And as quantity of users increases, what about the quality? and the challenges with spam, bots, flag wars, whales gaming the system, etc, etc...?
Great potential, perhaps. Though also great challenges...
But at least it has a working beta version, army of those who create great challenges and a lot of fun. Compared to other coins that does not even have a prototype.
True, true.
Not to mention that technically, it’s pretty much the top-performing blockchain of any out at this point...
I read something earlier about how @dan was talking about an EOS based competitor for this platform. Perhaps Steem was just @dan way of finding out the weird and wonderful ways people would find to grab a piece of the pie and game the system so he could eliminate them on EOS?
Saw a Medium article referencing that yesterday, was about to write a post on it but couldn’t find it again - about a potential “Steem 2.0”
I wouldn’t guess there were those intentions behind it, so much as it was just a project in his pipeline, just as Bitshares was - from which he could take the lessons into his next developments. May be interesting to see how long he sticks around with EOS after it’s up and running, and what he may move onto next...
Also curious whether his “Steem 2.0” project will at all integrate with Steem 1.0, or be a completely new venture. Personally, I’d hope it’d leverage what’s been built here to enhance 1.0, rather than leave everyone who’s supported it get this far behind...
That's pathetic!
You think this is about winning and losing? That's pathetic! Only a dense, obtuse sociopath would do so.
sbd is in relatively low price right now...
I wish you to BTFD, then. 😀
Hence the reason to maintain 15% of portfolio as cash to deploy.
Love your work Haejin - ignore the haters, they would not be there if you were not successful :)
I appreciate it. As an analyst, I need to call it as I see em.
Price SBD currently drop drastically, I think because of the effects of State get BTC to Japan.
Interesting. Can you elaborate?
Yea...
The first headquarters of the bitcoin is located in Hong Kong, since the Chinese Government banned then they decided to move to Japan, where they got a small issue as well, but I hope it will be good.
I would be very happy if the whole world was opened and in the passed currency crypto,I am grateful to Satoshi Nakamoto. the creators of the bitcoin originating from Japan, hopefully I get to meet him someday, it is an honor for me.
Great projects will go through many ups and downs. This one I know is a Slumbering Giant. Soon FB/INSTA/TWIT will be the way of the dodo ... eclipsed by our STEEM power!
Interesting. Can you elaborate?
Sure
Look at what the "mainstream" social medias are doing at the moment... Their monopoly and and do it our way or the highway will soon be left behind for platforms lite this one :)
Fingers double crossed.
Hence the reason to maintain 15% of portfolio as cash to deploy.
Exactly... 15-20%.
I wish you MAAAAAAASSSSSSIVVVE PROFITS!!
Steem dollar is gaining some value and hopefully, it will rise with time.
Interesting. Can you elaborate?
Let's make it rain!
Haejin, I'm a huge fan of your work. I would like to thank you for all that you've done for the community. If you can, please do an analysis for Request Network, Icon, or Oyster Pearl. Thank you!
I wish you MAAAAAAASSSSSSIVVVE PROFITS!!
I think the big question is if there will be a new SBD pump?
And if so, when will it happen?
I'm 100% certain you can never predict a pump via TA. What's your opinion about future pumps?
it will rise...