Steem Dollar is forming a symmetrical triangle in long term | A breakout is likely in coming days
CryptoKraze Technical Analysis
Possibility on Daily Chart
If you look at daily chart, you will see Steem Dollar has formed a symmetrical triangle and likely to breakout. This is very common pattern in cryptocurrencies, whenever a coin makes this descending triangle, a breakout is imminent that might happen anytime soon. If we look at RSI, it has touched 70 level and has dipped below 50 level. It has to rise up to touch 70 level again.
- I have a buy entry at 0.00048000 with my profit target will be around 0.000072000 and 0.0010000 or above.
- Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void.
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That would be a welcome surprise! I liked seeing SDB in the $14 dollar range!
Im waiting for korean money to come in market and we can see that famous sbd spike
The way i see it, Steem and SBD are going to go places for sure. If for nothing, but for Steemit. There is bound to be a breakout soon.
We will of course have to wait and see just how soon this will happen.
Thanks for the analysis. I learned from the trade insights. :)
Lets see how well the breakout will do, i totally agree with you, the little time ive spent in following this pattern has made me realise a familiarity in growth patterns, but how soon this breakout will be i cant say, can you predict?
Sadly or not sadly, no one really can predict such occurrences in the crypto world. ;)
Then we just wait and see
It might take 1 week or 2
I totally agree and upvoted
Do you have any updates on Sbd now?
Are you still bullish on it?
I wish streem dollar to rapidly grow
It has already gone up rapidly
I hope SBD rises in coming days . This bear market has affected SBD pricing .
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STOPWhat is the purpose of sbd other than selling it for steem?
hello @cryptokraze :D hehehe
do not forget my post upvote okey.
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