Dashboard for this month: Cryptocurrencies(and Steem) and Regular markets; Activity up to date in all markets - 5 September 2017
At the beginning of this month, bitcoin fell by 5%, going as low as 4150$, ethereum aslo fell by 15% in the past 7 days.
Litecoin is the only coin this month that held strong, having a net gain of 12% for the past 7 days.
OMG(OmiseGo), is also a coin who held it's value when bitcoin was falling. 10% net gain in the past 7 days.
New coins, like OKcash, verge and walton have made some good impact this month, ranging from a progress of 48% to 250% these past 7 days.
The author's opinion is that bitcoin is still a buy, a strong buy.
Possible alts to hold are litecoin, and maybe OmiseGo. One can give a chance to Ethereum, due to it's price appreciation in the past months(despite the downtrends).
Also, below is a price chart of steem. Steem dollars have held their value between 1$ and 1.50$.
Below is an image of Steem/Btc pair, and it's support/resistance levels.
While steem has been in a downtrend, it might appreciate, against btc and usd, if it has the chance.
In the dashboard, bitcoin is down 7% this month.
As it can be seen, major indexes are down between 0.5% to 1% this day. Similar numbers for the weekly and monthly range.
Vix is up 5% this month.
The grains(corn,wheat, soybean) are up by 0.1%, 1.8% and 2.5% respectively and softs(coffee and sugar) are down by 0.6% and 1.9% respectively.
Oil is up by 2% today and 3% this month. Natural gas is down by 1% today and 2% this month.
Precious metals are also up by 0.5% today on average and 1.5% this month.
The dollar index is down by 0.4% this month.
Bitcoin is down 7% this month, but it's up by 2.8% today.
Out of the exotics, most of them keep an up-down value of +/- 0.5% compared to the dollar.
Except Ruble and South African Rand, which are up compared to the dollar by 0.8% and 0.7% respectively.
Euro is barely up this month(under 0.1%) while Gbp, Aud and Nzd are each up by 0.7% on average against the dollar, this month.
Japanese Yen and Canadian dollar are also up by 1% and 0.8% respectively against USD. Swiss franc is up by 0.3% against USD.
The dollar is seen as weakest this month.
Japanese Yen, Australian Dollar, New Zealand Dollar, Canadian Dollar, are seen as strong currencies in the weeks to come.
While the expectations are low for AUD and NZD(high probability they will keep their current range), Jpy has a mild chance to increase in strength due to potential military tensions in NK and Canadian Dollar, if it breaks below 1.23 and manages to trade below 1.20, there is a chance it may go to parity.(Dream 1-2 days ago seeing USDCAD to 1.00, in the past it happened the opposite with dreams, so it's all uncertain). If usdcad holds the 1.25 area, it might get back up to test 1.30 and above.
Advice for the following month...
->Buy btc dips(apparently this trade has been going well the past month in the dashboard).
Out of any alts, there is a high reluctance to buy anything at this stage. Bitcoin cash, and possibly dash, may be good.
In indexes, considering the tensions in nk... Do not buy any index unless S&P goes above 2500.
Sell the S&P below 2400.
Buy gold if it continues to go up. Sell zones at 1350$/oz and 1365$/oz.
Silver is a no buy. Any breakout above 18.50/18.60 on silver can send it to 20$/oz.
No trade in oil, has been rangebound. However oil favored trading pairs can be longed(Cad, Rub).
Thus, potential sells for USDRUB and USDCAD pairs are favored.
Eur is uncertain, Gbp just as uncertain, while Aud and Nzd are known to be rangebound.
Any long trade would favor Aud and Nzd, then Eur and then Gbp.
Another long trade favored would be Jpy and Cad.
Considering the above, the best trades now are:
- Buying bitcoin
- Long Cad(also maybe Rub and Zar), then possibly Jpy, Aud, Nzd, and lastly Eur, Gbp and Chf.
- Avoid indexes, unless it's a breakout above 2500 for S&P or below 2400.
- Possibly long gold, but careful.
- Avoid oil, it's still rangebound. The bias is still up however.