Top 10 Cryptos
At the moment of writing top 10 assets were extremely bullish, with 3 of them posting double digit gains.
Bitcoin recovered above $8,500, but even if the market is red, the gains aren't making up for yesterday's losses. Alts are looking better than Bitcoin.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $2.93 on Coinmarketcap, sharply up from yesterday.
On the 1 hour chart we had 4 consecutive green candles and we're approaching the 35k satoshis resistance level.
On the 1 day chart looks like stabilization is going to happen around 34k satoshis, which is higher than last low
SBD was trading, at the moment of writing, at $2.47 on average, sharply up from yesterday.
The 1 hour chart relatively consistent volume on the attempt to reach 27k satoshis again
The 1 day chart shows the first green candle after 11 consecutive red candles, a much expected correction.
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, for 1 SBD you get 0.845 STEEM, up from yesterday and below parity
Overall opinion: Yesterday's dip looks now, in hindsight, more like a "last chance to get in" operation, before a new bull run. But since the bull run is yet to be seen - this correction doesn't count as a bull run - we still have to wait at least 2 weeks to see if this is true. STEEM and SBD are holding on surprisingly well.
Disclaimer: I'm not a trader and this is not trading advice. I'm writing these articles for my own educational purposes and they are not meant as an investment foundation. Please make your own due diligences when investing and never invest more than you can afford to lose.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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Glad to see the market is slowly recovering from the dreadful past couple of days...
I think its the perfect time to buy STEEM And SBD
Thanks for the update now and always my friend . You’re much appreciated
Current Bitcoin chart analysis! Can we find support or will we see price drop lower over the next week?
From extremely bearish to extremely bullish in 24hs, the crypto world is really amazing isn't it? I'm glad i'm here :-P
I'm looking forward to the result of this conference that is helding in two days.
Hopefully, we will get positive news.
Get in now and be happy later im sure the bull run is closer than we think
I dont know the cause of this increase but its a good relief from the downs we experienced lately. I hope tomorrow gets better
Yeah. I guess bitcoin is dictating the tune right now. For all the alts that were red yesterday to be all green today. It's good though.
Let's see if the bull run is real.
Man it's a delight to see this news from you. This period of crypto currency seemed never ending. And oh thank God at least some relief.
Thanks for the insight. I think, the current correction helped many ride on the train. STEEM and SBDs are back on track but still not sure, if we can see another dip anytime. Great analysis @dragosroua.
The market start to cover...
crypto rate is going good but i am sad for steem rate your article is best
Thanks for sharing with us .
There is a hope for SBD to reach again 3$ and steem above 3$
Why Coinmarketcap Shows Different Price than https://steemdollar.com
The nice thing is that SBD is getting lower these days, and also the fact that you started to include the SBD to Steem ratio, it makes the evolution of this report more obvious.
Glad to see that market is slowly recovering.... thank you so much for this informative post.. @dragosroua
After yesterday's drop, today the markets seem to have stabilized. There are several reasons mentioned; the massive selloff bitcoin from Mt Gox trustee or just a previous reaction to next week expected bull run during Consensus Conference. We will still have to wait until midweek.
Bitcoin has formed a new triangle and is trading on the $8400 support waiting for a breakout in either direction as volumes are decreasing.
EOS is drawing a very similar pattern, but in this case, the asset is expected to become very bullish sometime during next weeks. Some traders already point towards a $50 short-term target.
Finally Steem has bounced up from the 32K Satoshis support line and seems to have clearly reversed its trend. Now is targeting the 100 Moving Average resistance on the 1hr chart. If it is able to penetrate that resistance, next one will be the 200MA around 36K Satoshis.
Lunyr just amazed everyone in between this