Top 10 Cryptos
At the moment of writing, top 10 crypto assets were predominantly bearish, with 7 of them in red and 3 in green.
Bitcoin is surprisingly stable, while alts are continuing to take a serious beating.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $0.75 on Coinmarketcap, slightly down from yesterday.
The hourly chart shows a huge red candle, which took the price from 12k to 10k satoshis in less than an hour. Price rebounded and it's now hovering around 11.8k satoshis
Due to that huge red candle, the daily chart is looking a bit more bullish than expected (long bottom wick and small body for a candle are usually indicators of a bull move)
SBD was trading, at the moment of writing, at $0.96, slightly up from yesterday and still at the peg.
On the hourly chart, SBD is stable at 15k satoshis
The daily chart is plateauing at 15k satoshis after a few days of moderate gains
SBD to STEEM Ratio
At the moment of writing, according to steem.supply you could get 1.287 STEEM for 1 SBD, up from yesterday, and above parity. Since SBD printing rate is 0%, rewards are paid now in STEEM / Steem Power.
Overall opinion: Markets are almost dormant today, with small volume and not too much change. The huge red candle of STEEM proved there are still buyers, even if big dumps are flooding the market. SBD is stable at the peg. My personal outlook is neutral to bullish short term, and neutral medium term.
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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