Markets Snapshots - Day One

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As I already announced, I'm starting a 30 days writing challenge. Basically, I will write each day an article on a topic that I'm interested in, or something that I'm just learning. I will 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, all top 10 cryptos were in green.


Screen Shot 2018-01-01 at 9.12.11 AM.png


Bitcoin is stationary around $14k, Ripple is maintaining its newly conquered position as the 2nd largest crypto currency in the world by market cap, but Ethereum, probably following the announcement of the Casper PoS testnet launch, is catching up. Stellar is up one position and it continues the strong bull trend, pushing Monero out of top 10.

STEEM And SBD

At the moment of writing, STEEM was trading, on average at $3.13 on Coinmarketcap. On Bittrex, the 30 minutes charts shows 3 consecutive green candles, with upwards wick, on a moderate volume, which may indicate the price action may head towards testing the next 24k satoshi level.


Screen Shot 2018-01-01 at 9.13.03 AM.png


The 1 hour chart paints a similar picture, with 3 consecutive green candles, recovering after a sharp decrease and making room for a cautious breakout. There doesn't seem to be enough volume for a quick trip upwards, though.


Screen Shot 2018-01-01 at 9.13.10 AM.png


The 1 day chart gives more context and puts this small rally in perspective. After a consistent bull week, STEEM was correcting from levels as high as 25k satoshis, with a few days of touching below 20k satoshis, and now it looks prepared to start the climb. Again, not a very significant volume, so the trend may not be strong.


Screen Shot 2018-01-01 at 9.13.22 AM.png


SBD was trading, at the moment of writing, at $7.94 on average. The 30 minutes chart on Bittrex shows high amplitude swings, on significant volume.


Screen Shot 2018-01-01 at 9.33.24 AM.png


The 1 hour chart supports this pattern, but given the almost non-existent wicks on the last few candles, it may signify more price consistency, which may translate in a stronger trend. But this may also be because of low activity following holidays, so I don't think it's enough of an indicator.


Screen Shot 2018-01-01 at 9.33.44 AM.png


The 1 day chart puts everything in perspective and shows, in fact, a sideways trading pattern, with small variations on small volume.


Screen Shot 2018-01-01 at 9.33.52 AM.png


Overall opinion: cautiously testing 24k satoshi levels for STEEM, stationary with a small downtrend potential for SBD.

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@dragosroua.


Dragos Roua


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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):

Markets Snapshots - Day One | Ecency