Home The Taylor Report-Bitcoin vs Gold vs Ethereum BITCOIN Consolidates Above $9K, Bullish Sign; GOLD Testing $1,300, Unchanged On...

BITCOIN Consolidates Above $9K, Bullish Sign; GOLD Testing $1,300, Unchanged On Day (5/2/18)

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.

5/2/18 Closing Prices:

Bitcoin:  $9,084.82 (+$179.41) 
Gold:  $1,305  (-$0-)
Dow Jones Industrials:  23,924.98  (-174.07)
S&P 500:  2,635.67  (-19.13)

Nasdaq Composite:  7,100.90  (-29.81)

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

Trading Summary Notes for Wednesday, 5/2/2018

  • Next big numbers for BITCOIN.……$9,400-$9,500
  • Pushing above $9,500 will set the next target at $12,000-$12,500
  • Consolidating around $9,000 looks very favorable
  • GOLD tried to rally, failed and now back testing $1,300
  • May have a “tug-o-war” between bulls and bears around $1,300
  • 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