Top 10 Cryptos

At the moment of writing top 10 assets were overwhelmingly bearish, with 9 in red and only one in green.

Screen Shot 2018-04-05 at 10.39.54 AM.png

The only green asset is TRON, with a whopping 30% increase. The rest are going slightly down, with Bitcoin trying to maintain itself around $7,000.

STEEM And SBD

At the moment of writing, STEEM was trading, on average, at $1.71 on Coinmarketcap, down from yesterday.

On Bittrex, the 30 minutes chart shows the beginning of a descending channel, started around 8 hours ago.

Screen Shot 2018-04-05 at 10.40.14 AM.png

The 1 hour chart shows a severe adjustment of almost 1k satoshis in less than an hour:

Screen Shot 2018-04-05 at 10.41.51 AM.png

The 1 day chart shows the correction is still playing, although the value is still above the previous level (before the spike).

Screen Shot 2018-04-05 at 10.41.56 AM.png

SBD was trading, at the moment of writing, at $2.06 on average, down from yesterday.

The 30 minutes chart on Bittrex shows a failed cup and handle formation, morphed into a parabolic descent:

Screen Shot 2018-04-05 at 10.42.05 AM.png

The 1 hour chart shows 4 consecutive red candles with almost no wicks (big selling pressure)

Screen Shot 2018-04-05 at 10.42.10 AM.png

The 1 day chart shows the same aggressive correction as for STEEM:

Screen Shot 2018-04-05 at 10.42.16 AM.png

SBD to STEEM Ratio

At the moment of writing, according to steem.supply, for 1 SBD you get 1.209 STEEM, down from yesterday and trending lower.

Screen Shot 2018-04-05 at 10.41.25 AM.png

Overall opinion: Markets are still cautious, but the bear pressure seems to weaken. The recent spike in STEEM / SBD looks more and more like another SBD pump, very short lived, this time.

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 Hive account@dragosroua.

Wanna know when you're getting paid?

I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards

It's free to use, but if you think this is a useful addition, I'd appreciate your witness vote.

Thank you!

Psst: new to Steemit? Start Here

Market Snapshot - April 5th 2018