Steem price probably to be supported against many others and thoughts about STEEM/SBD

Good morning Steemers and traders! The markets have been in a steady gliding mode and bagholders are being liquidated every minute. Overall outlook is grim, but there is always something good in a bad day.

Namely, yesterday, on February 1st, Binance came out with an announcement that they have listed STEEM on their exchange for trading. Pairs available are STEEM/BTC, STEEM/ETH and STEEM/BNB (some kind of a weird Binance Coin).

_{Via Binance}

Since many exchanges have closed doors to new customers, i have been occasionally making accounts at various cryptocurrency brokers, to not miss out on opportunities on the occurence of another wave of bans. A Steemer really needs an exchange, where he can move his Steem to, compare prices, find arbitrage opportunities etc. And since I was unlucky to be left out of Bittrex by a close call, I also own a Binance account. I don't see the appeal of the Binance coin - only thing that catches the eye, is that it provides you a 50% discount, when paying fees with it. Instead I would love to see more pairs to trade STEEM against and of course, support for SBD too.

Nevertheless, let's not get carried away, Binance is a major exchange and this is significant move. While listing only 3 Steem pairs for trading, this should keep the price of Steem supported against many other cryptocurrencies.

I share the view of many that Steem should be listed on more exchanges as it's one the major cryptocurrencies. Getting listed on Binance might have been very well the work of Weiss Ratings Agency's report. If you're interested, what others are doing to get Steem listed on more exchanges, check out what @thecryptodrive has been doing to get Steem listed on Quoinex and Qryptos here.

_{Quoinex.com - what a tongue-twister}

Grab a Binance account here: https://www.binance.com/

Have some experience with Binance already? Tell me your horror or happy stories in the comments!

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Remember my post, where i considered by a technicians view, why SBD should be outperforming Steem in the short-term?

Yes, i was wrong. The talk that most witnesses are doing efforts to peg SBD to $1 and that it eventually will fall there anyway immediately halted the SBD advance. And take a look at this STEEM/SBD chart, courtery of Tradingview and kindly pointed out by @bulleth. Nice inverted H&S pattern there (the pattern sucks, but the breakout is clear). And now Steem getting listed on Binance but SBD not, is suppotive of this pattern, that points to 1.5 in the STEEM/SBD ratio

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But whats going on with the markets? They are sliding so bad, you cannot see any crypto to catch any bid. It's a self-fulfilling prophecy. People are afraid of the potential market crash, so they sell their holding and give their contribution to the bloodletting.

The phase where retail traders sell their holdings is usually the phase, where institutions accumulate positions. Whether we are their preferred level already - can't know, but if you are not betting your house, it's a good time to start adding to your portfolio.

Keep your heads cool out there!