BITCOIN Breaks Above $7,000, Gains Momentum; GOLD Fails To Hold $1,350, Drops $16 (4/12/18)

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.

4/12/18 Closing Prices:

Bitcoin:  $7,679.30  (+737.02) 
Gold:  $1,335  (-$16) 
Dow Jones Industrials:  24,483.05  (+293.60)
S&P 500:  2,663.99  (+21.80)

Nasdaq Composite:  7,140.25  (+71.22)

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

Trading Summary Notes for Thursday, 4/12/2018

  • BITCOIN finishes basing in the $6,500-$7,000 area, leaps way above $7,000
  • Momentum very strong and breaking out to the upside………$9,000 next resistance
  • Tax selling pretty much over
  • Talk of huge new potential investors (Soros, Rockefeller, etc) bring in bitcoin buyers
  • Long term (4th quarter) target $30,000-$35,000
  • GOLD backs off after failure (again) to firmly close above $1,355
  • Just closing above $1,350 isn’t enough
  • Needs a sold close ABOVE $1,355 to confirm breakout
  • Back to trading range of $1,320-$1,325 and $1,350- $1,355 is in order
  • Once again, still looking for move to $1,390-$1,400.   Don’t be short gold
  • 2018 TOP PICKS……LONG BITCOIN AND GOLD

CURRENT TRADING POSITION:  Long BITCOIN & GOLD



CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time