Market Snapshot - May 9th 2018
Top 10 Cryptos
At the moment of writing top 10 assets were bearish with only one of them in green.
Bitcoin lost about $250 and it's trying hard to maintain the $9,000 level, while all the other alts are posting relevant losses.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $3.35 on Coinmarketcap, significantly down from yesterday.
The 1 hour chart shows a nice upswing from 37k to 39k satoshis, followed by a sharp connection back to the previous level
The 1 day chart shows a consistent red candle, cancelling the slowdown potential spotted yesterday .
SBD was trading, at the moment of writing, at $2.81 on average, significantly down from yesterday both in fiat and BTC.
The 1 hour chart shows a very sharp correction during the last few hours, in which SBD went from 39k to 37k satoshis
The 1 day chart suggests an acceleration of the downtrend, cancelling also the potential for stabilization indicated yesterday.
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, for 1 SBD you get 0.839 STEEM, down from yesterday and below parity
Overall opinion: Markets are correcting sharply today and STEEM is following suit. SBD is depreciating a bit faster than usual..
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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Your main post picture is very well tuned to your title lately, i am clearly in a positive mood today :-)
Maintaining $9,000 level is very important, otherwise it may further fall sharply...
Although most altcoins are red today, we can still consider this is a correction from the uptrend initiated in April.
Bitcoin 4hr chart shows price has crossed 50 and 100MA but the support at $9000 is still holding the price to go further down.
EOS seem to be supporting this downtrend in a much better position as the price keeps ranging and has not experienced a bigger correction after the initial days.
STEEM has jumped out of the upper trend channel as seen on the STEEM/BTC 4hr chart but we can consider still an uptrend correction showing a bull flag.
The bull flag gets even clearer when we check the STEEM/USD chart.
these correction means something for those people who waits to convert their sbd to steem. is has been a while now the last time sbd is higher than steem. I think sdb will have higher price than steem after few days hopefully.
What is this bear fallen upon sbd
Thanks for the update my friend.
Steem and Sbd at the time of this reply
this is the dip all expert was talking about, now we will see a huge rise.
Very good information for all of us @dagosroua
We hope SBD will again show big numbers,
Thanks @dragosroua for market updates.
These are very helpful all crypto users, i am appreciate your work.
Thanks sir for uploding this information.