SteemDollars Support & Resistance | Bulls Favored

21 feb 2020

SBDBTC (SteemDollars) is now trading just above EMA200 and ranging in-between MA200 (support) and EMA300 (resistance)... Let's take a closer look at the chart!

As I just mentioned SBDBTC is trading within the black (MA200) and gray (EMA300) lines but going in favor of the bulls, why?

• Since October 2019 SBD has been printing higher lows.
  
• Prices are safely trading above MA200 as well as EMA10, EMA50, and other major moving average lines.
  
• The MACD is on the bullish zone and starting to curve.
  
• The RSI is strong/bullish above 50 and positioned to move higher.
  
• The smaller capped altcoins are extremely bullish and SBDBTC is part of this group.
  

You can find additional targets if you zoom out.
This is not financial advice.

Thanks a lot for reading.

Namaste.