In my opinion you can't use technical analysis for SBD. You can only use fundamental analysis. SBD has a high inflation as long as the price is above $1. Currently the inflation rate is 9.6% per week or 500% per year. This regulation mechanism results in a SBD price of $1 in the mid to long term.
This chart you'll also find in my weekly steemit statistics:
https://steemit.com/steem/@sevenseals/steem-statistic-charts-week-05-new-activity-chart-and-country-statistic-added
Hi Sevenseals,
I respect your opinion but I do not agree with it. In the following chart I entered the Fibonacci levels and highlighted with green rectangles the various areas where the price of SBD / USD has respected the Fibonacci levels.
Apparently these levels are respected.
I fully agree that fundamental analysis is important, indeed, I think it is more important than technical analysis, and this we can see with the latest crash of the Steem Dollar, but I think that to identify good entry into the market, to identify trading signals, technical analysis is to be kept in mind.
This is my opinion.
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Sure, you can intermediately trade these signals.
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