SBD is starting to look bad again. But the last time it looked that bad, we saw a sharp reversal from 2.3$ to 6$.
We have a few strong support levels left, so there is no reason to worry yet.
In this update I want to show you those reversal levels that we might see reacting soon:
The next probable reversal levels are 2.88$, 2.25$ and 1.78$.
In the best case scenario, the uptrend line will be breached for a few hours, but then it shoots back up again into the triangle (preferably on heavy buying volume).
That is what I am looking for now... Stay tuned...
If you think this to be useful information:
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.
MUST READ!
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!
If you make any trades or investments after reading this post, it is completely in your own responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept to never hold me accountable for any of your losses.
Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...
Have a nice day :-)