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.
9/8/17 Closing Prices:
Bitcoin: $4,358.35 (-$291.45)
Gold: $1,347 (-$1.00)
Dow Jones Industrials: 21,797.79 (+13.01)
S&P 500: 2,461.43 (-3.67)
Nasdaq Composite: 6,360.19 (-37.68)
Trading Summary Notes for Friday, 9/8/2017
- BITCOIN drops on rumors China may shut down exchanges. “What, again?”
- China a “currency/bitcoin manipulator”? Is China trading bitcoin? Hmmmm!
- Until clarity, “dip buyers” reduce buying area to $3,000-$3,900.
- Bitcoin traders use stops……both sell stops (for longs) and buy stops (for shorts)
- GOLD pausing at the $1,350 area.
- Short term target of $1,350 reached. Take profits or stay the course? Use stops
- LONG TERM BULLISH ON BITCOIN & GOLD
Current TRADING Positions: LONG GOLD