SUMMARY
Even if Steem Dollar (SBD) gets pegged or locked up or lassoed to $1 mark; unbridled demand will not allow it to be confined in valuation. We likely have a resumption of the original bull trend starting as it can be seen in Bitcoin. For SBD; the triangle pattern, counted as a complex combination, is about ready to breakout. Price is very proximal to the apex. The red abcde waves seem complete. The subwaves of red (a) are composed of wxyxz. The parts are fitting into place and the culmination of pattern and Waves are showing a probable, profitable setup. IF correct, it'll be a sight to behold for then the onset of Wave 3 would be seen.
The below chart shows the projection towards $14.04 and five waves (white) are designed to resume the original trend. Let's see if the breakout from the triangle occurs very soon.
And here is my Forest Count. This is wave HODLing works so well for Cryptos. Regardless of the depth of retracement, regardless of time it all takes....profitability translates to MASSIVE!
The video has more details. Not sure why audio is not clear for some as it comes out crisp and crystal on my replays.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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