Prediction of SBD/USD Currency pair in the Weeks ahead by @doctor23


Hello #Steemit world.
And Steem greetings to this wonderful community #steem-cameroon. I will be predicting the future trend of the Steemit Blockchain Dollar against the United States Dollar.

Please Note

This is the prediction of the currency markets using indicators such as bolingers bands alongside supports and resistance levels, meaning the market can be altered by major news events in the days ahead, probably fundamental analysis.

Screenshot_20210501-102438_1.png

Image Source

Introduction

It is evident that they have been some major fall in most crypto currencies the past weeks, but as of now, i can say there is an exponential uprising again. This is actually particular to the bitcoin and etherium. Etherium has actually taken an uprise of about 20% is initial fall. While Bitcoin with its fall from 65, 000/$ to 47, 000/$ is now in a consolidation area of about 54, 000/$.

Steem currency also experienced a fall, from 1.3/$ to 0.6.

At the time of this post publication, it is about 0.85/$.
Coming to our main currency of this post the Steem Blockchain Dollar, it is more trending about 7.5$/SBD.

Analysis


Screenshot_20210501-102552.png

Image Source

Using the Bollinger band and stochastics indicators, one could determine and #overbought in the SBD currency. They have been a major and exponential rise the past few days. IT is then evident that, they will be a minor retracement to about $7 or 6.5$/SBD before continuing it's uprising again.

Screenshot_20210501-102342.png

Image Source

This is actually a daily chart, zoomed to show a clear pictures of the candle sticks.

Conclusion

With all this, it is time for you to choose when to buy more SBD and when to sell. In view of my analysis, you might consider buying more #SBD in the days ahead.

Thanks for Reading

Cc's
@saxopedia
@thegreens
@fombae
@steemcurator01
@steemcurator02


Comments 4


Wow
That’s a great piece of work you laid out up there
Even though I done understand much about it
Does it mean is going to drop this coming days?
And are you selling?
Cus am all for the buying

01.05.2021 10:35
0

Yes, sure @nackasnelson... I little drop to 6.5 before rising again.

Though i'm not selling yet too ..

Mmmh..
Thank you

01.05.2021 10:43
0

Permit me begin my comment by welcoming you again @doctor23. I for one have been missing these sort of updates on the status of the token which we all are so much into.

Thank you for this write ups. It gives some of us newbies and those fairly new in the crypto market an insight of what we are into.

Now i was thinking of just selling my steem since i saw that it had roused again after that big drop. But now i see no pressure in selling. Let the me steem on and see what tomorrow holds.

Continue with these updates sir.

You blessed my ignorance with knowledge.

🤝🤝

01.05.2021 11:38
0

As Predicted by @doctor23

Screenshot_20210506-070508.png

06.05.2021 20:18
0