Market Snapshot - September 8th 2018

in steemit •  2 months ago

Top 10 Cryptos

At the moment of writing, top 10 crypto assets looked bearish, with 9 of them in red and one in green.


Screen Shot 2018-09-08 at 9.14.07 AM.png


Bitcoin's indecision is keeping the other assets in limbo.

STEEM And SBD

At the moment of writing, STEEM was trading, on average, at $0.82 on Coinmarketcap, slightly down from yesterday.

The hourly chart indicates that STEEM is range trading in the 12k-13k satoshis interval, for now


Screen Shot 2018-09-08 at 9.14.24 AM.png


The daily chart suggests a bearish trend forming, which may take STEEM towards the ATL (All Time Low)


Screen Shot 2018-09-08 at 9.14.30 AM.png


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 maintaining the new corridor, trading at 14.5k satoshis


Screen Shot 2018-09-08 at 9.14.44 AM.png


The daily chart is stabilizing at the new 14.5k satoshis corridor


Screen Shot 2018-09-08 at 9.14.52 AM.png


SBD to STEEM Ratio

At the moment of writing, according to steem.supply you could get 1.15 STEEM for 1 SBD, slightly up from yesterday, and above parity. Since SBD printing rate is 0%, rewards are paid now in STEEM / Steem Power.


Screen Shot 2018-09-08 at 9.15.07 AM.png


Overall opinion: A rebound after the last dip was expected, but the markets aren't going there, at least for now. STEEM and SBD are relatively stable, but my personal outlook is neutral to bearish, 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.


Dragos Roua


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It seems the sudden strong downtrend may have finally stopped as we had most altcoins on a trading range yesterday.
Bitcoin is trying to cross the downtrend line coming from the previous highs in February and May but was not able to cross it as it is creating a strong resistance together with the $6500 level. The volume has been declining during the past hours and stochastic is pointing towards overbought. If the market can not cross that level we may see a small bounce on the downside keeping the trading range during the day.

Screen Shot 2018-09-08 at 09.18.22.png

EOS has the same pattern with resistance around the $5,2 area. Volume clearly declining and stochastic reaching overbought positions. It is clear Bitcoin influence was defining the behavior for this asset yesterday.

Screen Shot 2018-09-08 at 09.18.40.png

STEEM has exactly the same pattern as the previous ones, but the range the asset was trading yesterday is quite small in range as well as the volume. The pattern shows a much bigger indecision on the market with dojis as the two last candles. We need to see how the first day of the weekend unfolds.

Screen Shot 2018-09-08 at 09.18.55.png

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Hey bro, can you tell me how to add these Three lines in the graph on Trading view?

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Search for 3MA indicator, the one I am using also shows the Bolinger bands. It is called 3MA BB

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Is it paid or free?

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The Ethereum is just keep drooping

Thaks for sharing this info @dragosroua

It's funny how dogecoin was yesterday at 0.0055 and now it's at 0.0058 and is still maintaining his position of bull-run against all the other altcoins ... i think from being named the joke of crypto currencie in the Past this coin might be something in the Future. Hopefully the drop will continue, so now when someone wants to step in, should be gready :-)

Regards

Everything will go up shortly

Coin base is also preparing ETF, if it gets approved, Market will be stabilized!

Tether has showed awesome moves holding in usdt is quite good feeling :)

I do not like the way the market is going

Always painful to watch all these coin in the Red. But that's how Crypto Market works.

The price of steem is nothing to write home about now, and the saddest part is that I need money, and I've promised myself Never to power down, I don't want to be like that marshmallow kids story you once told us.
Three months now and I've never touched the power down button
All I need now is a steem miracle to make the price jump enough to clear my bills.

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I feel you.

But if you rely on a beta product, in a controversial niche, to pay your bills, I'd say you're not quite on the right track. A regular job will probably be more suitable for predictable revenue. Even if it pays less than what STEEM can potentially give you during the peak prices.

The crypto world - STEEM included - has a very high risk / reward ratio. While this means you will get a lot back if the markets will go up, it also means you can lose a lot, or simply don't get anything back from your efforts.

Like they say: "The truth will set you free. But first, it will piss you off."

I had expected a resurgence too considering the positive sentiments all round. Also changing my medium term outlook to neutral

Many beautiful posts.Your posts are a lot of learning topics. that is my favorite

Very bad and sad news steem price very low,hopefully steem price going up soon,

That is a great information . Really this news so helpful . Thanks for sharing @dragosroua

Very very bery sad condition of steem. 0.822 is lowest ever

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:)) its lowest ever was 0.10. I know, I was here when it happened. And I plan to stay here even if gets to that level again.

It has gone down even more..

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