Market Snapshot - Day Twelve

in steem •  11 days ago

This is my twelfth 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 in green, recovering mildly after yesterday's panic sell.


Screen Shot 2018-01-12 at 8.56.19 AM.png


Although we see increase everywhere, yesterday's loss was in the double digits for half of the tokens. The only ones seeing double digits increase are Ripple and Stellar. It's worth noting Bitcoin tentative to go beyond the psychological $14k level, where it seems there isn't enough upward momentum, and Ethereum stabilization in the $1,200-$1,300 corridor. The other alts are recovering cautiously.

STEEM And SBD

At the moment of writing, STEEM was trading, on average at $4.88 on Coinmarketcap, up from yesterday. On Bittrex, the 30 minutes chart is showing an inflection point at the 36k satoshi resistance line, and then a reversal following by a recovery.


Screen Shot 2018-01-12 at 8.56.40 AM.png


The 1 hour chart shows recovery close to the previous levels before the panic sell.


Screen Shot 2018-01-12 at 8.56.47 AM.png


The 1 day chart shows a fragile stabilization around 36k satoshis. There's not enough indication of a clear trend forming, but without significant upside, there's still room to go down until 22k satoshis.


Screen Shot 2018-01-12 at 8.57.07 AM.png


SBD was trading, at the moment of writing, at $5.85 on average, slightly upfrom yesterday. The 30 minutes chart on Bittrex shows a failed attempt to break up beyond 45k satoshis and a pull back to 42-43k satishis.


Screen Shot 2018-01-12 at 8.57.26 AM.png


The 1 hour chart suggests SBD entered sideways trading in a lower corridor than before the South Korea news, 42k-43k satoshis.


Screen Shot 2018-01-12 at 8.57.35 AM.png


The 1 day chart confirms the creation of a down channel, with the resistance level around 25k satoshis.


Screen Shot 2018-01-12 at 8.57.52 AM.png


Overall opinion: STEEM and SBD recovered after yesterday's moment of panic, but are continuing their correction down, in a healthier way.

Previous Posts In The Challenge

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.


Dragos Roua


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


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):

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It is impressive how fragile the market is, a couple of news out of context and everything falls

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its still a young market so its expected to have some high and lows, it will get better with time

Thanks for the analysis! I consider EOS as one of the top 10 as well, no matter it's still only a token.

As for the down correction for STEEM and SBD, I hope it's not heading towards the levels from the last summer and autumn at $1-1.50 on average.

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while I don't think it will reach that low, I think there's still some room to go down.

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its on an upward trend, now 20% up, trading at $5.6

One of what I look forward to everyday for #challenge30days is your own entry. I'm a little slow learner especially when numbers are concerned (haha) but it is making me learn more. Thanks!

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Glad to hear that!

good writing sir

Brotherr, check chat, I want to talk to you..please

I liked this concept of #challenge30days
Good luck and I look forward to more posts from you :)

a creativity man is motivated by desire to achieve, not by the desire to beat others...nice information.. u are great. thanks for sharing..please follow @ upvote me

Finally lot of green is back its great to see it again thanks for the updates

Your blog is very informative and useful.
You are doing a great job Man keep it up.
Thanks for writing this blog.

this will take a lot of time to recover this time

steem is up 20% trading at $5.62 and it recovering well , this past week the market lost $120B in market cap and most of it was yesterday. Today the market has gone above $700B mark