Market Snapshot - July 12th 2018
Top 10 Cryptos
At the moment of writing, top 10 assets were bearish, with all of them in red
Bitcoin is heading down to $6,000 and, although it's not there, the price velocity may suggest it will go under in the next few days. All other alts are on a similar downtrend.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $1.25 on Coinmarketcap, almost identical with yesterday in fiat, and in BTC.
The 1 hour chart suggests stabilization between 20k and 21k satoshis
The 1 day chart indicates that STEEM is testing a key level, 20k satoshis, which was from where the December 2017 rally started and which was touched again during April. If this level is broken, STEEM may go as low as 10k satoshis
SBD was trading, at the moment of writing, at $1.06, down from yesterday in fiat and in BTC.
The 1 hour chart shows another significant correction during the last few hours, keeping the price just floating above 17k satoshis
The 1 day chart is relatively flat and it may indicate the pump and dump days of SBD may be over
SBD to STEEM Ratio
At the moment of writing, according to steem.supply you could get 0.846 STEEM for 1 SBD, down from yesterday, and under parity.
Overall opinion: The general bearish sentiment is taking steam, and if Bitcoin pierces through $6,000 it may lead to another big wave of dips. STEEM is at a critical level now, while SBD reached stability.
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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Another red day for crypto.
It seems the big bull trend from previous days may be just a correction from the global downtrend.
Bitcoin had a new down leg this morning and little by little is approaching to the $6000 level after breaking the uptrend line. RSI is at a low again and that could be a signal of reversal, we will have to see how the day develops.
EOS lost all the gains from previous days and as seen on the graph never reached to get out of the downtrend channel. Now the price has managed to go below $7 while oscillators (RSI and Stochastic) show chances of rebound.
STEEM is no differend, downtrend kept going on and the asset has lost most of the gains from previous uptrend. If there is no reversal today, price could hit the $1,14 support low.
I have a feeling the market will jump up very soon
Steem performing very poorly looking like it might exit top 40...
Dragos, I hope you have some Byteballs - gonna need to lend one :p
https://steemit.com/steemit/@punqtured/official-byteball-airdrop-to-steemians
thanks for the heads up, I had no idea about this airdrop, looking into it now. Also, I see you got some Byteballs already, right?
Yup, managed to claim it :)
Blood in the street again :'( I thought we had enough of it, but it is still going :(
Market situation is difficult these days
Prices are good in case of a big drop
Thank you for the wonderful chart
I wish you all the best
We will all hold on to the system, even if the price goes down more than this, I will stay, I want to get to the end of this, funny enough, the crypto universe has no end.
Thank you for this good information and good for steemit money praise 😍 👌@dragosroua
This week os little bit hard for these coins. As we see in last some days the coins are leaving down there values. Hope these catch a higher peak.
Great time to pick up some bargains, unless people now think the whole Crypto movement is about to end? Human beings are so fickle sometimes