Market Snapshot - June 13th 2018
Top 10 Cryptos
At the moment of writing top 10 assets were bearish, all of them in red.
Yesterday's correction was really just a dead cat bounce and the downtrend continues.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $1.75 on Coinmarketcap, down from yesterday.
The 1 hour chart shows a sideways pattern in the 25.5k and 28.5k satoshis.
The 1 day chart shows the first green candle after 6 consecutive days of a bearish trend
SBD was trading, at the moment of writing, at $1.35, , down from as yesterday.
The 1 hour chart shows flat trading around 20.5k satoshis
The 1 day chart is flat around the same level, 20.5k satoshis
SBD to STEEM Ratio
At the moment of writing, according to steem.supply you could get 0.769 STEEM for 1 SBD, slightly up from yesterday, and under parity.
Overall opinion: As expected, yesterday's correction didn't hold, so Bitcoin is still looking down, testing the $6,500 resistance level. STEEM and SBD lost in fiat, obviously, but are relatively stable in Bitcoin.
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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New down push last night. It seems as the market may be reaching its final downtrend before starting to finally move up.
Bitcoin reached the $6500 support from previous low as the 50MA created a resistance as seen in the 1hr chart. We all expect that support line to hold.
EOS has had one of the strongest loses agains the USD since last weekend. It went below $10 after last night drop and now is trading slightly above that level. Voting process continues and we are beyond 1/3 of the needed ones. Some Block Producers are starting to show clear leadership. I am quite confident the market will strongly react upwards after voting process ends.
Steem was reacting much better than other cryptos swinging up but when it reached the 50MA it dropped again as the rest of the market. Volume remains slightly bigger than last week and the market may react following bitcoin trend.
Why the markets are crashing...
Looks like we are in this phase for quite sometime. The market of steem is stabilizing around $ 1.75.
Overall activities on the steem blockchain has reduced drastically, little do people realise that after the rain comes a sunshine.
This is the best time for community engagement
100% agree!
i think btc will show some resistance at 6000$ or 6200@ ,what you say?
Hard to tell. My personal opinion is that it needs to get a bit lower than that before it bounces back.
may 4000$ to 4500 $ range ? i have also heard it from someone where.
the prices just keep falling in the pattern seems like some form of cartel manipulations exists in this world
Informative post .
Thank you for your information .
Upvote you .
And thanks for sharing @dragosroua
It disappointing to Steen price decreasing day by day. Hopefully it will rise again.
Oh no. I think 1sbd is going to equal 1usd. Not a good time for cell. Its time to buy and invest.
We could see more subsequent pain because bitcoin is making lower low on daily chart. steem will also come down to 20k.