Home The Taylor Report-Bitcoin vs Gold vs Ethereum BITCOIN Breaks Out Big Time, $12K In Sight; GOLD Bounces Off...

BITCOIN Breaks Out Big Time, $12K In Sight; GOLD Bounces Off $1,300 (5/3/18)

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.

5/3/18 Closing Prices:

Bitcoin:  $9,418.50  (+$333.68) 
Gold:  $1,311  (+$6)
Dow Jones Industrials:  23,930.15  (+5.17)
S&P 500:  2,629.73  (-5.94)

Nasdaq Composite:  7,088.15  (-12.73)

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

Trading Summary Notes for Thursday, 5/3/2018

  • The rally in BITCOIN picked up steam. Big jump begins new leg up
  • Solid close above $9,500 very bullish
  • Pushing above $9,500 will set the next target at $12,000-$12,500
  • Momentum building with new buyers and big names…….Soros, Rockefeller…….and Goldman Sachs opening a bitcoin trading desk
  • GOLD held and rallied off $1,300
  • A “tug-o-war” between bulls and bears around $1,300 has begun
  • Higher interest rates pulling gold down, inflation fears pulling gold up
  • Inflation fears will heat up as wage gains begin become more prevalent
  • Have moved “neutral” on gold. Long term very bullish

CURRENT TRADING POSITION:  Long BITCOIN & GOLD