Top 10 Cryptos
At the moment of writing top 10 assets were overwhelmingly bearish, with 9 in red and only one in green.
The only green asset is TRON, with a whopping 30% increase. The rest are going slightly down, with Bitcoin trying to maintain itself around $7,000.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $1.71 on Coinmarketcap, down from yesterday.
On Bittrex, the 30 minutes chart shows the beginning of a descending channel, started around 8 hours ago.
The 1 hour chart shows a severe adjustment of almost 1k satoshis in less than an hour:
The 1 day chart shows the correction is still playing, although the value is still above the previous level (before the spike).
SBD was trading, at the moment of writing, at $2.06 on average, down from yesterday.
The 30 minutes chart on Bittrex shows a failed cup and handle formation, morphed into a parabolic descent:
The 1 hour chart shows 4 consecutive red candles with almost no wicks (big selling pressure)
The 1 day chart shows the same aggressive correction as for STEEM:
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, for 1 SBD you get 1.209 STEEM, down from yesterday and trending lower.
Overall opinion: Markets are still cautious, but the bear pressure seems to weaken. The recent spike in STEEM / SBD looks more and more like another SBD pump, very short lived, this time.
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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Why TRON is on bull run, when the whole market is bearish?
I refrain to make any comments about the "why", because they will probably be very harsh. I don't trust this project.
It seems a few coins are defying the trend. At least Steem is still higher than it was recently, but it may struggle to maintain that. We're in for rough seas for a while. Power up and keep posting
SBD and STEEM pump brought back a few thousand users to the platform. Those who were holding SBD, they cashed out or powered up this may also contributed to bear pressure.
I could say the bull trap was quite expected from the recent developments but, im more concerned in the rise of the sbd
Steem is a strong coin, need some good news for pumping :-)
The rise we had recently in Sbd was a really needed fresh breathe. Now the market is settling down abit into the red again
I expected this correction from the beginning of the week. Btc had gone up from 6500 to 7500 with a very small volume, it was a matter of time to realize that we were in a bulltrap.
Agree about the bull trap, but looking at the charts seems like bear pressure is still going down.
It seems to be that it's inevitable to return to the 6000$ resistance
I don't see it that low again, but market is always right. Let's wait and see.
@dragosroua This is why I am patient and I Love to add on Pullbacks.................
Is there an indication of why the pump happened? Was it designed to get it back to the higher levels, but just didn't catch on?
None that I know about.
And yesterday i thought we could keep some of the gains from the pump lol, looks like we have to wait a bit more until the release of hiveminds and future updates on SMTs to experience real growth and not pump and dumps.
Big dip all of a sudden seems like some one is playing and what do you think about the cartel theory in the crypto
Taking advantage of the dip myself, and got myself some more Steem today. Just hope Im doing the right thing.
Its a good time to buy and buy more steem and powerup!!!
Lets hope steem can show the big gain it showed yesterday
Thanks for informing us keep it up A great work from you you share every day its nice
Yea the apikenwqs very short lived but it took is away from $1.5 which was really good. Lots of people sold their long hodled sbd.
Bitcoin prices rose above the $ 7,400 level in trading on Tuesday after a report that Japanese online brokerage firm Monex Group is looking for ways to take over the Japanese cryptocurrency exchange market, Coincheck. Hope it will continue to increase!
Very enjoyable read the article. Hopefully BTC back strengthened. Already so our old waiting for it. Like dry ground waiting rain :-)
Thanks for the updates @dragosroua... Keep it up
Much thanks....appreciate this information big time
I don't understand what the hell is wrong with crypto.
It's all going down , I thought it would go up as it came down. And I thought it was pretty temporary but I don't know what to think anymore. What do you think ?
In this article I discussed the expected scenario
https://steemit.com/bitcoin/@ali11/will-the-bitcoin-see-a-recent-bearish-wave-in-the-coming-days
So bad days are back... God save us now...