$9,000 Halts Bitcoin’s Strong Rally; Higher Interest Rates Sink Gold (4/23/18)

Bitcoin Gold

FintekNews compares the price of Bitcoin, Gold & Major Market Averages on a daily basis, and uses the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing.

4/23/18 Closing Prices:

Bitcoin:  $8,903.54  (+$402.79) (from Friday’s close)
Gold:  $1,324  (-$12) (from Friday’s close)
Dow Jones Industrials:  24,448.69 (-14.25)
S&P 500:  2,670.29 (+0.15)

Nasdaq Composite:  7,128.60  (-17.52)

CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index

Trading Summary Notes for Monday, 4/23/2018

  • After a steady rise following tax selling last week, BITCOIN hits the $9,000 “wall”
  • $9,000 + – was resistance last month. Slight pullback expected before next move higher
  • Momentum now on the bullish side. A strong close above $9,100 would open the door to $12,000-$12,500
  • Year end target………………$30,000-$35,000
  • Ten year treasuries just shy of 3% push GOLD down big
  • Higher interest rates keep pressure on gold
  • Interest rates will take a ‘back seat’ to inflation shortly. Inflation is being vastly under estimated
  • Inflation very bullish for gold
  • Once again, gold continues to be locked in a very tight trading range ($1,315-$1,355)
  • 2018 TOP PICKS……LONG BITCOIN AND GOLD

CURRENT TRADING POSITION:  Long BITCOIN & GOLD



CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time