This is my seventh 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 slightly bullish, with 6 in green and 4 in red.

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Bitcoin continues to consolidate around the $17k level, while ETH is appreciating beyond the 1k level, with almost 10% increase day to day, and reaches $108 billion market cap. The gap between ETH and Ripple continues to narrow, and it's not at $14 billion. Other than TRON, which seems to correct faster, all other top cryptos are more or less in the same parameters as yesterday (I'm excluding from this statement Bitcoin Cash, which seems to be acting on its own).

STEEM And SBD

At the moment of writing, STEEM was trading, on average at $6.26 on Coinmarketcap, higher than yesterday. On Bittrex, the 30 minutes charts shows two upswings on moderate volume, followed by flat trading.

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The 1 hour chart shows a consolidation above yesterdays's lows.

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The 1 day chart shows the potential beginning of a triangle formation, indicating stabilization over the next few days.

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SBD was trading, at the moment of writing, at $7.88 on average, up from yesterday. The 30 minutes chart on Bittrex shows a mostly stable line around 47k satoshis, slightly up from yesterday's 45k satoshis.

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The 1 hour chart supports the assumption that the downwards pressure of the last two days vanished and SBD may enter a more stable corridor.

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The 1 day chart suggests that resistance may be found around 47k satoshis.

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Overall opinion: STEEM is slightly higher during a Bitcoin consolidation, which indicates potential once Bitcoin corrects (if corrects). SBD seems to find support around $47k satoshis.

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

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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You can also vote for me as witness here:
https://steemit.com/~witnesses

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If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform):

• Rewards: Were Does The Money Come From?
• Netiquette: How To Avoid Being A Steem Douche?
• Witnesses: What Are They And Why Should You Care?
• How Can I Mine Steem And What CPU / GPU Power Do I Need For That?
• The Beginner Guide To Not Getting Hacked On Steemit