BITCOIN Backing Off Recent Highs; GOLD Wandering Around Lost (11/7/17)

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.

11/7/17 Closing Prices:

Bitcoin: $7035.32     (-$204.72)
Gold:   $1,276   (-$5.00)
Dow Jones Industrials:    23,557.23   ( -8.81)
S&P 500:  
2,590.64      (-0.49)
Nasdaq Composite:   6,767.78      (-18.65)

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

Trading Summary Notes for Tuesday, 11/7/2017

  • BITCOIN drifts lower while consolidating recent gains
  • Looks like the $7,000 level is in the rear view mirror……for now
  • “Buy the dip?”. Yes, but lets see if we get a deeper dip. Looks likely.
  • GOLD gives up a bit of yesterday’s jump
  • The yellow shiny metal is in a dead calm area. Aimlessly wandering
  • Gold looks to WANT to go up, but needs a posses to think that. Momentum lacking
  • LONG TERM BULLISH ON BITCOIN AND GOLD

CURRENT TRADING POSITION: LONG GOLD

 

Read our PRIOR daily commentaries on Bitcoin vs Gold here
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