I am not a astrologer. I posted my last sbd analysis at 16th january.That post caption was ' can sbd rise above 70 cent in january". It already happened this week. I am thinking how my predict become true. Now the sbd price scenario totally changed.The whole chart of sbd/usd boost us confidence about bullish trend. Now i have no confusion about that. Bull are controling market.sbd price is now 77.25 cent.When i posted my last analysis that time sbd rate was 62.29 cent. @sbdpotato and @burnpost are doing good job to reduce sbd supply. All crypto coin are now in bullish mode. So, we can say bullish trend start finally.

This is my last post of sbd analysis which was posted at 16th january 2020. https://steemit.com/hive-174578/@shharafat/can-sbd-rise-above-70-cent-in-january-sbd-steem-dollar-analysis

SBD Information

SBD rank 285th now based on total market capital(source:coingecko) 328th at 16.01.2020 Rank up 43. A great comeback. total supply 7.6 million circulating supply 7.6 million current daily trading volume of today is 400k usd. Above 92k usd was 16.01.2020 SBD All time high was 14$ in december 2017 SBD All time low was 32 cent november 2019 Total Market capital 5.67 million dollar.4.56million usd was at 16.01.2020 Current sbd price 77.25 (62.29 cent was at (16.01.2020). A huge jump with in only 10 days.

This is the 5th time i am posting analysis about sbd.Basically i am a forex trader since 2009.I have vast experience in forex.So, i always apply my experience to steem and sbd chart.I think sbd price can go above 1 dollar in with in 2 month.

Technical Analysis

I was hopeless to write same story again and again.But now story has been changed finally. Gradually price chart is moving upside.Now many positive things showing on chart.It is the good start of big bullish trend.

Daily Chart

Daily high is 81.79 cent Daily low is 76.31 cent

A great comeback of sbd price. At january first week sbd price was 57 cent. I think some correction will start upcoming days. We know sbd has very limited supply. Still now i think this price is not a fair price. Sbd must be go up over 2 dollar. Today or tomorrow it must be happen.

Market Capital Daily Chart

Daily High 5.97 million Daily low 5.60 million

If i compare market capital with 16th january then it has been increase around 1.13 million with in 10 days.Because price already up 19 cent. Today daily chart shows a up channel touched 81 cent and come back for correction.

Moving average and Oscillator in daily chart

This is the first time i am seeing no sell signal here.Every where is blue.Indicator showing strong bullish signal.Except echomuku cloud base line all moving average indicate buy signal.Echomuku shows neutral. I said i was hopeless about sbd rate. But this january changed everything.

SBD weekly chart

Weekly high 85.16 cent at 22th january Weekly low 63.28 cent at 20th january

Please look at chart. Sideways range 57 cent- 65 cent already broken successfully. We can say it was a breakout and finally end of long bearish trend. Weekly high is 85 cent. I think it will exist one month.Price need to correction and arrange more power to make new high.I think it can test 73 cent again.Now the range will be under 73 to 85. On the other hand we do not need to worry untill the strong support 65 cent exist.

Market Capital in weekly Chart

This week high above 6.32 million at 22th january This week Low 4.63 million at 20th january

Now sbd market has huge volatility and price tring to test new high. Market capitall also increased significantly. We have to remind sbd has only 7.3 million supply. So, now sbd has more demand than supply.

Moving average and oscillator in weekly chart

Overall summary is buy.Moving average showing buy signal but not a strong buy.It need one week more.But oscilator still showing sell signal.8 neutral 2 sell and 1 buy. No need to worry.It is the start of bullish trend.

SBD price in Monthly chart

Monthly high 85.16 cent at 22th january Monthly low 36 cent at 3rd january

We can understand the market situation better in monthly chart. Look there bearish trend already finished. Range also finished.Last week break out happened to upside.Price makes new yearly high.This strong bullish bias move and huge volatility of market give us confidence that sbd must test new high in upcoming days.

Market capital in Monthly chart

Monthly high 6.31 million dollar at 22th december Monthly low 2.68 million dollar at 3rd january

I wrote my last analysis that all major coin has increased at 2nd week of january and sbd was not so impressive.But this week all major coin is mute but sbd is rocking the market.This steem pegged dollar now slight behind from us dollar.May be it will catch us dollar in upcoming days.

Moving Average and oscillator in Monthly chart

We have seen recent improvement of price can not impact monthly chart.Because it need time.Bullish continuation going on in last 10 days.If it continue one more week then oscilator and moving average must show buy signal. Below 10 days moving average indicates buy signal but 30 days and 50 days showing sell signal.2 indicator out of 10 showing sell signal in oscilator.Rest of others are neutral.

Fundamental Analysis

Last 4 month i wanted everyday a big fundamental news which will change the market direction and make end of bearish trend. Although no any major news on market.But bullish momentum come finally and gradually it moving higher.I said before i rely most on fundamental analysis.

Us and iran tension is nowin history.Also this big news "CME (Chicago-based derivatives exchange) bitcoin future successfully past rival bakkt daily trading volume in first day" impact already over.

Bitcoin halving will happen may 2020.It would be big news for crypto.

The third coin of steem SMT is coming in february2020.It will be very good news for steem based all currency including sbd dollar.SMT testnet is going on.
We noticed so many proposal about steem is in under process. 4 weeks power down is one of them.Another one is instant power down charge burn 5% steem. I am not sure it will happen or not. But i am very happy to see bullish momentum comeback strongly.

My trading idea

I said last week if price stable above 65 cent then open but. So, it already happened. Now my advice is open buy after a correction.Best buy possition is 73-75 area. No need to open sell here.Never counter the trend. You must be get huge profit if you hold your buy position. Who has already open and hold their sell , please you close your position with small loss.

All screenshot taken from https://www.coingecko.com/en/coins/steem-dollars https://www.tradingview.com/symbols/SBDUSD/technicals/

We want to see sbd price above 1 dollar.@sbdpotato and @burnpost are trying to make it again by their own way.We must support them.