Market Snapshots - Day Five
This is my fifth day from the 30 days writing challenge I'm doing during January. Basically, I'm writing each day an article on a topic that I'm interested in, or something that I'm just learning. I tag these posts with #challenge30days, if you want to join, all you have to do is to use the same tag. Each day I will also pick 3 articles and give them a full upsteem. For all the details and the motivation, have a look at the introductory post.
Top 10 Cryptos
At the moment of writing, top 10 cryptos were mixed 50 /50.
Bitcoin is slightly up, above the 15k level and it confirms a shy bullish trend. ETH reached the $1000 ATH, as I suggested yesterday, and it holds the ground. Ripple, Stellar and Nem are all showing double digit losses, but compared with the recent growth, this may be just a correction. It's worth noting that the gap between Ripple and Ethereum is narrowing, it's roughly $20 billion, a few hours ago it was over $40 billion. Tron had a really high spike, amidst increased speculation and hype.
STEEM And SBD
At the moment of writing, STEEM was trading, on average at $6.56 on Coinmarketcap, lower than yesterday. On Bittrex, the 30 minutes charts shows a downwards pattern, with a potential support reached at around 43.3k satoshis.
The 1 hour chart supports shows a clear correcting trend, wiping out yesterday's spike.
The 1 day chart confirms the correction, and also marks a relatively small loss, but with a high upwards wick, meaning the bear pressure is still consistent.
SBD was trading, at the moment of writing, at 8.69 on average, down from yesterday. The 30 minutes chart on Bittrex shows support was found around 57k satoshis.
The 1 hour chart confirms support and sets the scene for a potentially stabler evolution.
The 1 day chart shows an inflection level at 57k. If bear pressure continues, there's no resistance line until 25k satoshis.
Overall opinion: STEEM correction and SBD stabilization, on a slight appreciation of Bitcoin (which may draw out funds from alts, including STEEM / SBD).
Previous Posts In The Challenge
- Markets Snapshot - Day One
- Markets Snapshot - Day Two
- Markets Snapshot - Day Three
- Markets Snapshot - Day Four
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.
https://steemit.com/~witnesses
If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform):
"Overall opinion: STEEM correction and SBD stabilization, on a slight appreciation of Bitcoin (which may draw out funds from alts, including STEEM / SBD)".
The correction of steem & stabilization of sbd respectively is inevitable, just hope it doesn't deep too much. Expecting more appreciation from bitcoin
The red and green look "Christmassy" 😉
Thanks to you now Im updating myself about cryptos.
Earlier I did not know what they mean even.Thank you
-cheers-
Ur giving a great information about the cryptocurrency
Steem price is down. This is great, time to load up on more.
Yesterday ripple is up but today bitcoin. Nice to see. Thanks for sharing the post
Day 5 already? I didn't even noticed how fast time flies. And we are getting closer to 1 billion market cap, this is so great for a beginning of year!
Waw!
I would buy more steem today, in anticipation of new bullish run.
Ripple even with the losses still manages to be in the top :) thanks for the post sir
the sbd price is so down and steem is running up...