BITCOIN…GETTING UGLY, REALLY UGLY; GOLD…FIRMING UP (9/14/17)

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.

9/14/17 Closing Prices:

Bitcoin:  $3,550.01  (-$239.10)
Gold:  $1,328  (+$6.00)
Dow Jones Industrials:  22,203.48  (+45.30)
S&P 500:  2,495.62  (-2.87) 

Nasdaq Composite:  6,429.08 
(-31.10)

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

Trading Summary Notes for Thursday, 9/14/2017

  • BITCOIN……a heard of elephants all trying to get out through a mouse hole
  • Momentum and sentiment has turned decidedly negative. Expect further downside
  • Shakeout is under way so stay out of the way
  • Bitcoin……..$2,500-$3,000? Looks like it.
  • GOLD retrenching from run up to $1,350 (our target)
  • Gold building on gains of the last month or so
  • Gold traders can look to buy in the $1,305-$1,310 area
  • LONG TERM BULLISH ON BITCOIN & GOLD

Current TRADING Positions:  LONG GOLD

Past Market

 

Read our PRIOR daily commentaries on Bitcoin vs Gold here

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