BITCOIN HAS BIG WEEKEND….BACK ABOVE $4K; GOLD SINKS…WAITS FOR FED NEWS (9/18/17)

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.

9/18/17 Closing Prices:

Bitcoin:  $4,072.79 (+$521.65)
Gold:  $1,307  (-$14.00)
Dow Jones Industrials:  22,331.35  (+63.01)
S&P 500:  2,503.87  (+3.64) 

Nasdaq Composite:  6,454.64 
(+6.17)

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

Trading Summary Notes for Monday, 9/18/2017

  • BITCOIN ROCKETS up after deep plunge last week. Up over 35% from bottom to Monday BRR ‘fix’
  • Volatility exists in bitcoin. Expect more
  • Bitcoin heading back to $5,000? Perhaps. Trading bounce? Perhaps
  • Looks like bitcoin will “test” $4,500. Then??????
  • GOLD sells off on Fed fears. Fed meets this week to discuss interest rates and QE unwinding
  • Wait for the news conference after announcement. Should be NO rate increase
  • Gold right here in our “buy zone”………$1,305-$1.310. Traders use stops $1,285-$1,290
  • LONG TERM BULLISH ON BITCOIN & GOLD

Current TRADING Positions:  LONG BITCOIN & LONG GOLD

Past Market

 

Read our PRIOR daily commentaries on Bitcoin vs Gold here

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