This is my nineteenth day from the 30 days writing challenge I'm doing during January. Basically, I'm writing each day an article on a topic that I'm interested in, or something that I'm just learning. I tag these posts with #challenge30days, if you want to join, all you have to do is to use the same tag. Each day I will also pick 3 articles and give them a full upsteem. For all the details and the motivation, have a look at the introductory post.

Top 10 Cryptos

At the moment of writing, top 10 cryptos were all green, marking two consecutive days of recovery.

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After hovering underneath $12k for a few hours, Bitcoin settled around $11.5k. Apart from Ripple, which is in the double digit gain area, all other tokens are posting moderate appreciation. As some traders said yesterday, although the recovery trend is real, its strength may not be enough to cover the recent losses (or, in technical term, it might be just a "dead cat bounce").

STEEM And SBD

At the moment of writing, STEEM was trading, on average at $4.52 on Coinmarketcap, up from yesterday. On Bittrex, the 30 minutes chart shows a slow, but steady recovery, stabilizing at 30k satoshis.

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The 1 hour chart shows a sharp appreciation during the first part, followed by sideways trading with low variation, which usually signals caution.

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The 1 day chart shows 3 consecutive days of recovery, but in very small installments, making for half of the losses generated in the previous dive. The downwards pressure is still there, and if there won't be a breakout above 45k, it's possible to see more southern prices.

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SBD was trading, at the moment of writing, at $4.53 on average, sharply up from yesterday. The 30 minutes chart on Bittrex shows a surprisingly steady SBD, trading around 38k satoshi, with just one feeble attempt to go over it and no significant down trends.

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The 1 hour chart shows the bull strength is not enough to pump SBD higher, as we were used for the last few weeks, but it may be enough to keep it at the current level.

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The 1 day chart shows three consecutive green candles with very low body and wicks, covering barely a third of the previous loss.

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Overall opinion: markets rebounded cautiously after the previous crash. STEEM and SBD are showing substantial strength and there are reasons to believe in further stabilization. A bull trend is very unlikely to appear (except if there is significant news from development or marketing, in which case it could form very fast). The bearish pressure seems to have been contained. For now.

Previous Posts In The Challenge

• Markets Snapshot - Day One
• Markets Snapshot - Day Two
• Markets Snapshot - Day Three
• Markets Snapshot - Day Four
• Markets Snapshot - Day Five
• Markets Snapshot - Day Six
• Market Snapshot - Day Seven
• Market Snapshot - Day Eight
• Market Snapshot - Day Nine
• Market Snapshot - Day Ten
• Market Snapshot - Day Eleven
• Market Snapshot - Day Twelve
• Market Snapshot - Day Thirteen
• Market Snapshot - Day Fourteen
• Market Snapshot - Day Fifteen
• Market Snapshot - Day Sixteen
• Market Snapshot - Day Seventeen
• Market Snapshot - Day Eighteen

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.

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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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