BITCOIN “DIP” BUYERS WIN-AGAIN; GOLD SET TO EXPLODE? (8/16/17)

Bitcoin Gold

Welcome to our new streamlined format for Bitcoin vs Gold (and beyond) and look for additional changes over the coming weeks, including a new logo and more. 

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.

8/16/17 Closing Prices:

Bitcoin:  $4,115.07  (+$223.04)
Gold:  $1,283  (+$11.00)
Dow Jones Industrials:  22,024.87  (+25.88)
S&P 500:  2,468.11  (+3.50) 

Nasdaq Composite:   6,345.11 
(+12.10)

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

Trading Summary Notes for Wednesday, 8/16/2017

  • Bitcoin’s pullback (dip) ran its course. Heading for $5,000
  • The higher the price, the higher the volatility. Expect more ‘vol’
  • Can’t argue with the upside momentum. ANYONE who has called a top in bitcoin is………….looking pretty silly
  • Gold looks ready to explode and go right through resistance at $1,300
  • BOUGHT GOLD AT $1,271. Now long gold and looking for $1,350
  • Traders can buy gold on dips against sell stop at $1,250    (I did)
  • 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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