Market Snapshot - September 12th 2018
Top 10 Cryptos
At the moment of writing, top 10 crypto assets were predominantly bearish, with 9 of them in red and 1 in green.
Bitcoin made its move, after a few days of sideways trading, but the move was downside (even if small). The alts are going down faster than that. Ethereum lost more than 10% in the last 24 hours.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $0.67 on Coinmarketcap, sharply down from yesterday.
The hourly chart shows a steep downtrend, following that huge red candle of yesterday, which sent the price below 10k satoshis. At the moment of writing, STEEM was trading for 10.7k satoshis.
The daily chart is still bearish, although the current red candle didn't reach yesterday's wick (engulfing candle).
SBD was trading, at the moment of writing, at $0.95, almost similar with yesterday and still at the peg.
On the hourly chart, SBD is stable at 15k satoshis
The daily chart is stabilizing at 15k satoshis
SBD to STEEM Ratio
At the moment of writing, according to steem.supply you could get 1.396 STEEM for 1 SBD, sharply up from yesterday, and above parity. Since SBD printing rate is 0%, rewards are paid now in STEEM / Steem Power.
Overall opinion: Markets are taking a beating, but it looks short lived. STEEM is going down faster than I'd like to see, but the good news is that SBD is stable at the peg. My personal outlook is still 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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Gradual downtrend keeps in place.
Bitcoin has been on a slow downwards trading range and now is trading around $6250 still below 50 and 100MA lines and long-term downtrend line. I do not see a clear sign of behavior change yet.
EOS punched the $5 level and moving averages but bounced down again. It keeps the same pattern as bitcoin with a smooth gradual downtrend ranging up and down.
STEEM is losing value much faster and falling appart from the 50MA line. It is below the long-term support line and I do not see any sign of reversal unless its strong correlation with bitcoin moves the price up following the top crypto.
This is not looking good
I hate the red days like this
Hi, just curious, is your short to medium term bullish/neutral outlook based on the "well it can't get any worse, can it?" theory? Because, it looks to me like we're testing long-term lows/resistance - and one dip lower for BTC will see Steem crashing through that!
I'm long-term bullish on Steem, but short-term doesn't look good to me.
My short to medium term bullish/neutral is based on Steem internal economics: HardFork 20 in less than 2 weeks, and SMT to be released next year. Until then, there will obviously be a lot of market moves (up and down) but the overall trend will be bullish, IMHO.
Of course, I can be very, very wrong. The only one that's right about these things is the market, you know :)
Steem falling drastically 10k sat's major resistance below that free fall all the way to the down
All I see is blood everywhere. Well if you want to be positive, there is no better time to invest
HODL, HODL, brethren, I say HODL.
Thanks for the other day, I wasn't flagged, I was downvoted, though I don't know the difference. Thanks all the same, peace has been made.
All that SBD I saved up might soon become handy :)
Going down and down again,so so sad
Waiting for the when you upload a snapshot of market in which bull is back @dragosroua
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