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!
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Elliott Wave Counting Tutorial #1
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Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
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Essay: Is Technical Analysis a Quantum Event?
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