Market Snapshot - September 16th 2018
Top 10 Cryptos
At the moment of writing, top 10 crypto assets were correcting down continuing yesterday's trend, and 8 of them were in red and 2 in green.
For the last week Bitcoin floated between $6200 and $6,500, while the rest of the assets followed the same range trading pattern.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $0.71 on Coinmarketcap, identical with yesterday.
The hourly chart indicates that STEEM found a channel at 11k satoshis and he's not able to break out in any direction from it
The daily chart floored at the same level, 11k, for almost a week now
SBD was trading, at the moment of writing, at $0.96, identical with yesterday and still at the peg.
On the hourly chart, SBD is stable at around 14.5-15k satoshis
The daily chart is stable just below 15k satoshis
SBD to STEEM Ratio
At the moment of writing, according to steem.supply you could get 1.353 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.
Overall opinion: Markets are continuing to stay more or less flat, and the expectations are starting to build up. STEEM and SBD are very stable. There's an eerie feeling looking at the markets in this flat shape, knowing they can break out in either direction at any moment. My overall outlook is neutral to bullish short term and bullish long 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.
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False triangle breakout.
After breaking the triangle on the upper side. Bitcoin corrected down due to lack of volume and crossed the 50MA and creating a small bear trend which ended with a huge lower wig bear candle hitting the 100 MA acting as a support. The market then bounced up entering into a trading range.
We may see a flat day waiting for volume to push the market up again.
EOS had a much stronger triangle breakout with a huge body bull candle but the market could not keep moving up and corrected down hitting the 100 MA with the last bear candle wig and then also bounced up. All in all, the price is around the same level it was yesterday.
STEEM also broke the triangle and actually started trending up but could not break the 100 MA resistance line and corrected down. Now is ranging between 100 and 200 MA lines waiting for volume to define a new trend, we will probably have a flat Sunday.
I hope the market will go up today
btc's 5.8k support will not break down again..........
the market is so confused where to move towards hahah sideways completely with big dumps in seconds
Nice to see Steem stable for a few days. I was fearing a complete meltdown the way priced dropped when it broke through $1
Well as the year closes and prices still remain low, hope is all I have left for a price miracle
I like to see steem over 5 $ in 2 or 3 months.
Market is at standstill... Waiting for a signal...
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Stop spamming you rascal.
Good days coming soon.