Things were looking good today, until about 15 minutes ago!
We were seeing markets move up nicely today, until the last hour where we saw the price of BTC fall to 8.3k. Alts are just getting rekt in this dip. STEEM and SBD are both down almost 15% each. Based on recent movements, I couldn't expect too massive of a move down if we do end up breaking to the downside. I'd be looking for a bottom somewhere around 7.4k-7.8k. The long term trend support is around 6.8k, but I don't think we'll get down there.
I believe the lower we go, the more likely the STEEM / SBD ratio will be to breaking to the downside. The ratio hasn't moved too much in this movement, but I imagine that could begin to shake up a bit more soon. Interestingly enough, consensus doesn't seem to be having the effect everyone had expected on the markets so far. Maybe there will be an "after effect", Lets see.
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Heck yes!