Top 10 Cryptos

At the moment of writing, top 10 cryptos were all in green, with 6 of them posting double digit growth.

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The market are still very volatile and these gains are barely making up for half of the losses the crypto assets experienced during last few weeks. For instance, on January 15th, less than a month ago, Bitcoin was trading at over $14,000, now it's cautiously inching towards $9,000.

STEEM And SBD

At the moment of writing, STEEM was trading, on average, at $4.25 on Coinmarketcap, up from yesterday.

On Bittrex, the 30 minutes chart shows a big breakout over 53k satoshis, followed by an equally powerful drop.

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The 1 hour chart puts this in perspective: the breakout generated an even more powerful resistance effect and now the price is lower than it was before the upswing.

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The 1 day chart is still moderately bullish but a red candle with a big upper wick may indicate a reversal is in the cards.

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SBD was trading, at the moment of writing, at $4.87 on average, sharply up from yesterday. The 30 minutes chart on Bittrex shows a big upswing over 63k satoshis, followed by an equally powerful correction down.

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The 1 hour chart indicates that the buying volume may sustain the current gains for a while.

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The 1 day chart is showing two consecutive green candles suggesting that a bull trend may be in the cards.

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SBD to STEEM Ratio

At the moment of writing, according to steem.supply, you could buy 1.064 STEEM with 1 SBD, sharply up from yesterday and the parity is, at least for now, broken.

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Overall opinion: The SBD weekend pumps seem to be back again and this may drive the price of SBD / STEEM again for a while. The most important piece of information from today's chart is the internal market volume, more than 26,000 SBD:

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This may suggest that some traders are slowly moving their capital inside the platform (or some big whales are cashing out).

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.

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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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