Market Snapshot - May 1st 2018
Top 10 Cryptos
At the moment of writing top 10 assets were predominantly bearish, with 8 of them in red and 2 of them in green, just like yesterday.
Bitcoin is barely holding off above $9,000 while all the other assets are looking down. It may be related to the fact that May 1st is usually a holiday in many parts of the world. Or it may be that the market is simply correcting itself.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $3.80 on Coinmarketcap, down from yesterday.
The 1 hour chart shows that 43k satoshis resistance was broken downwards and now the price is hovering around 41.5k-42k satoshis.
The 1 day chart shows a 4th consecutive red candle, but with longer wick and shorter body, which may indicate the correction is approaching and end.
SBD was trading, at the moment of writing, at $3.19 on average, significantly down from yesterday.
The 1 hour chart broke down the 36k satoshis - after 3 tests - and the price is not around 34k satoshis.
The 1 day chart looks more bearish than STEEM, with the last correcting candle longer
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, for 1 SBD you get 0.833 STEEM, slightly down from yesterday and below parity
Overall opinion: Markets are correcting harder today. STEEM lost 1.5k satoshis in one day, but it's still doing well, SBD is continuing the gentle downtrend, heading to the peg. Volume seems to be very low for both assets.
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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This is not a correction, this is a second chance :))
That's the spirit :)
The red color is fit to May First..
That was a good one :)
Bitcoin continues on its trading range and the $9000 support seems to keep the value to go further down so far as seen on the 4hr chart.
EOS had a big correction after days going strongly up and reachint All Time Highs. The report released by Multicon Capital may have had some influence in that run. I expect uptrend to resume after this correction.
Finally, STEEM seems to have fallen below the uptrending channel according to the STEEM/USD chart but that is due to BTC last night devaluation. If we check STEEM/BTC chart we can see the price is still inside the uptrending channel. Expecting market reversal during the day.
Yes, I can see that, in BTC, STEEM is doing relatively well. It's the low volume that's a bit worrying, but it may also be "the silence before the storm".
Low volume may be an indicator big players are just waiting for downtrend exhaust to jump in again and making money shorting. We will have to wait to see.
Yeah we are bearish now, lets see how long the correction will hold for
The market of sbd is going down in bits, i dont really know why its happening but i hope it stabilizes soon. I think the effects of Houbi is over now
So sad to see STEEM under $4 again , i hope it's will cover up soon
Hey @dragosroua
What abt #challenge30days?
Should we get over, 1st post "How do i got on steemit"?
nope, not yet : ) I didn't start the challenge, will do so in an hour.
Keep your eyes open on Bitcoin Private , it's going up very good in the last few days
Not really fond of any Bitcoin fork...
Thank's for keep us up to date, great job!
Steem is below $4 but I remain optimistic while SBD tilts towards the peg. The correction cuts across all cryptos as I’ve seen