This is my twenty third day from the 30 days writing challenge I'm doing during January. Basically, I'm writing each day an article on a topic that I'm interested in, or something that I'm just learning. I 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, top 10 cryptos were sharply bearish, with 9 out of 10 assets posting double digit losses.
The dive might be caused by the recent announcement about taxing crypto-currency exchanges in South Korea because all tokens are posting a similar decrease. Looks almost like some big players are liquidating their positions at once.
STEEM And SBD
At the moment of writing, STEEM was trading, on average at $4.15 on Coinmarketcap, significantly down from yesterday. On Bittrex, the 30 minutes chart shows a sideways corridor formed between 38k satoshis and 41k satoshis.
The 1 hour chart shows a smooth downwards trend slowing down slightly.
The 1 day chart shows a very small correcting candle. Given its entire size is smaller than yesterday's candle wick, we can assume a potential stabilization around the corridor mentioned above.
SBD was trading, at the moment of writing, at $6.45 on average,sharply down from yesterday. The 30 minutes chart on Bittrex shows two consecutive sharp corrections followed by a cautious slowdown.
The 1 hour chart displays cautious trading after two major corrections.
The 1 day chart is very similar with the STEEM 1 day chart, in that the correcting candle is smaller than yesterday's candle wick.
Overall opinion: although hit by the news just like the rest of the tokens, SBD and STEEM seem resilient. The cautious retracement may leave room for further improvement, but unless overall crypto sentiment improves significantly, I expect mainly sideways movements.
Previous Posts In The Challenge
- Markets Snapshot - Day One
- Markets Snapshot - Day Two
- Markets Snapshot - Day Three
- Markets Snapshot - Day Four
- Markets Snapshot - Day Five
- Markets Snapshot - Day Six
- Market Snapshot - Day Seven
- Market Snapshot - Day Eight
- Market Snapshot - Day Nine
- Market Snapshot - Day Ten
- Market Snapshot - Day Eleven
- Market Snapshot - Day Twelve
- Market Snapshot - Day Thirteen
- Market Snapshot - Day Fourteen
- Market Snapshot - Day Fifteen
- Market Snapshot - Day Sixteen
- Market Snapshot - Day Seventeen
- Market Snapshot - Day Eighteen
- Market Snapshot - Day Nineteen
- Market Snapshot - Day Twenty
- Market Snapshot - Day Twenty One
- Market Snapshot - Day Twenty Two
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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