Top 10 Cryptos

At the moment of writing, top 10 assets were predominantly bearish, with 8 of them in red and two in green (Bitcoin and Tether)

Screen Shot 2018-07-20 at 12.41.34 PM.png

Bitcoin is having a small increase, trading above $7,400 and probably the rest of the assets will follow. But for now, they're all in red, correcting consistently after last few days jump.

STEEM And SBD

At the moment of writing, STEEM was trading, on average, at $1.47 on Coinmarketcap, down from yesterday in fiat, and in BTC.

The 1 hour chart shows a rapid drop from 21k satoshis to 19k satoshis, followed by an upward correction up to 19.7k satoshis

Screen Shot 2018-07-20 at 12.41.51 PM.png

The 1 day chart is relatively bearish, with two consecutive red candles following very small gains

Screen Shot 2018-07-20 at 12.43.42 PM.png

SBD was trading, at the moment of writing, at $1.24, down in fiat from yesterday, and in BTC.

The 1 hour chart is showing a sharp correction which pierced through the 17k satoshis resistance level, SBD trading now at 16.7k satoshis

Screen Shot 2018-07-20 at 12.42.06 PM.png

The 1 day chart is also bearish, testing heavily the 17k satoshis resistance level

Screen Shot 2018-07-20 at 12.42.16 PM.png

SBD to STEEM Ratio

At the moment of writing, according to steem.supply you could get 0.850 STEEM for 1 SBD, down from yesterday, and under parity.

Screen Shot 2018-07-20 at 12.42.36 PM.png

Overall opinion: Looks like we're at an inflection point: Bitcoin seems to continue its advance, while alts are correcting down, which mimics the standard markets behavior (money flowing from alts to Bitcoin, when Bitcoin appreciates). STEEM and SBD are more bearish than I'd like them to be, but let's hope the weekend will bring some energy into these assets.

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.

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Market Snapshot - July 20th 2018