Market Snapshot - May 19th 2018
Top 10 Cryptos
At the moment of writing top 10 assets were predominantly bullish, with only one of them, Bitcoin Cash, in red.
Bitcoin's sideways trading pattern seen during the last 4-5 days continues, and some alts (STEEM included, see below) are starting to evolve individually, decoupling from Bitcoin.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $3.06 on Coinmarketcap, up from yesterday.
The 1 hour chart shows two consecutive upswings, on significant (albeit not impressive) volume.
The 1 day chart indicates a significant move up, touching again the 3 days MA with a value of 37k satoshis.
SBD was trading, at the moment of writing, at $2.26 on average, slightly up from yesterday.
The 1 hour chart shows sideways trading and STEEM upswings are not very visible in SBD price
The 1 day chart looks stable and indicates 28k satoshis as the new resistance
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, for 1 SBD you get 0.740 STEEM, significantly down from yesterday and below parity
Overall opinion: Top 10 assets are still undecided, showing mostly sideways trading, while some of the alts are decoupling from Bitcoin. Bitcoin gained 1.06%, while STEEM appreciated 8.82% in Bitcoin. Also, SBD and STEEM are decoupling slowly, with SBD stationary / bearish. All in all, the outlook is bullish for STEEM.
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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Happy to see green color and glad to see Steem crossing $3 after some time...
Both steem and sbd are showing a sign of independence from bitcoin and just like yesterday they rose again. This is good news even though sbd was above $3 some weeks back
Hey, what's your input on Bitcoin Cash? I feel like it's not the type of cash i'd want to use. I'd choose Litecoin over Bcash.
The good news in all of these is that the market is maturing... the volatility is less but then stability and value should come after that. Looking forward to long term cryptocurrencies that will forever disrupt major industries.
Owk this morning looks really good in the crypto shpere. I saw steem going a bit bullish when I woke up this morning and I wish sbd could wake up from its slumber and follow steem right behind.
crypto is one of the biggest opportunities since the invention of the internet itseif....great times to be around......
Over the night i saw steem on 3.1 then woke up to see 3.0 or maybe i was dreaming
Yesterday the markets had a little break on the previous day's downtrend. Bitcoin bounced up after hitting the $8000 support. It reached the fifth Eliott Wave (4hr graph) and reversed to start an impulsive one, but volumes are not big so we have to wait and see how the market behaves in the following hours.
EOS 1hr chart shows a symmetric triangle as the 50 and 100 moving averages converge. An imminent breakout is expected but the direction is uncertain.
Finally, STEEM was one of the gainers of the day seen in the Steam/BTC 1hr chart. It clearly reversed its trend and punched the 37K satoshi level, now is experiencing a minor retracement but market may keep its uptrend direction.
Glad to see that almost top10 cryptos are going well and showing bulish trend but at the same time. SBD is declining as compared to steem. A tough news for many steemians who hold SBD with a hope that SBD price will more than Steem.
@therealwolf 's created platform smartsteem scammed my post this morning (mothersday) that was supposed to be for an Abused Childrens Charity. Dude literally stole from abused children that don't have mothers ... on mothersday.
https://steemit.com/steemit/@prometheusrisen/beware-of-smartsteem-scam