Market Snapshot - May 29th 2018
Top 10 Cryptos
At the moment of writing top 10 assets were continuing to be bearish, with 9 of them in red, and only one, Cardano, in green
The downtrend continues and Bitcoin seems to go pretty fast through the $7,000 level.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $2.14 on Coinmarketcap, down from yesterday both in fiat and Bitcoin.
The 1 hour chart shows two consecutive dips, taking the price from 32k satoshis to 30k satoshis.
After a very rough day, the 1 day charts indicates that the bleeding may have stopped, at least for now.
SBD was trading, at the moment of writing, at $1.62 on average, down from yesterday.
The 1 hour chart shows a smaller dip, from 23k to 22k satoshis
The 1 day chart confirms the testing of the 22k satoshis level, which, for now, is holding on.
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, for 1 SBD you get 0.762 STEEM, slightly up from yesterday and below parity
Overall opinion: The consistency of the downtrend suggests this may be "THE correction" waited by the majority of analysts before a new bull run. If that's the case, then the market will go at least to the levels of April, if not lower. STEEM and SBD are aligned with this bear market, for now.
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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Hope this bearish market end soon...
Most welcome @hms18
Great analysis! I believe the short term scenario for Bitcoin is still very bearish and that price will continue to fall until we are trading below the $6,900 region. Price has began to develop lower highs and lower lows after falling through the support level of $7,500 level. We could see price trade as low as $6,400 by the end of the month.
Market keeps is smooth downtrend started a few days ago when Bitcoin reached $10000.
EOS seems to be one of the cryptos with stronger price decrease, probably due to the inminent mainnet launch. Price punched $11 and now is trading just above that level.
Steem is right now recovering part of the losses from the last bull 4hr candle but overall trend keeps bearish and I explect price to go down to $2 again.
It aches my heart seeing all red screen
Where the heck is the bull to do the run ?
If there’s no bull at then we’d use a leopard
Afterall the leopard is faster than the bull
Let someone please do the run
I hate seeing red
cArdano is the only coin who is in green. no good signs, bleeding every where.
A big confussion is created this month..no signs of rising and look like the market is drowning.
Is steem price coming down not good for those that want to invest in it? I think this is a good time for investors to come into the system and the more investors that come into the system, the more likely the price may go up. Just my novice thought, I can't tell if I'm correct. Just using forex trading analysis here. Hope it starts going up soon
Steem has gotten to a price that I am anticipating, and I would set SBD buy order to 19,000 satoshi.
This is bloody, i cant believe steem is down to 2.1, hard days i tell you very hard days...
But after every rainfall comes a sunshine
Steem price decrease day by day, its really bad for us now.
Market is just scattered and as by now there is no hope for rise trend.