In Elliott Wave terms, Huobi Token began a wave one advance in November 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in April this year, and the red wave two (blue sub-waves a-b-c) correction ended in June. If this wave count is correct, Huobi Token should be heading next towards the April peak in the red wave three.
I busted my butt yesteday with the Dtube review for Oracle-d that turned out to be a bust since the review wasnt “professional” enough. Prolly was a bit too negative now that i think about it. haha No matter!
Today is a new day.
For those of you that have missed it STEEM has been listed on Huobi exchange with a USDT pair. Which is always nice. Thats probably why we are seeing a pump the last day or so.
If id have to guess id say that the exchange might be pumping the price a bit to get some traders hooked on the token early on. Just a guess ofc.
Id love to see STEEM and 0.4$ but its anyones guess if we can sustain the price growth. Usually STEEM drops off pretty fast after a small pump.
But im not a market analyst so im not pretending to know the movement of the market. Im just going off of what ive been seeing lately. Call it anecdotal. 🙂
The best thing about this listing is that we got a Tether/Steem pair. Thats amazing news especially in a volatile bear market when you can easily move your STEEM into a stable coin and alleviate risk easily.
Will i use Huobi?
Probably not, since i find centralized exchanges for most part being in the game of extortion and borderline criminal activity. Having a net negative effect on the crypto ecosystem. I dont deny that we “need them” right now, but that doesnt mean i need to like them.