BITCOIN Gives Back Some HUGE Weekend Gains; GOLD Just Chills (12/4/17)

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.

12/4/17 Closing Prices:

Bitcoin:  $11,348.88  (-$392.46)
Gold:  $1,277  (-$3)
Dow Jones Industrials:  24,290.05  (+58.46)
S&P 500:  2,639.44  (-2.78)

Nasdaq Composite:  6,775.37  (-72.22)

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

Trading Summary Notes for Monday, 12/4/2017

  • BITCOIN, after huge weekend gains, gives a little back
  • Before it goes to $1M (?) it will need to pass $12K. Looks like it will too
  • Bitcoin selling is extremely limited. The higher it goes the more sellers (if any) hold
  • Next stop $15K.
  • Cboe to launch bitcoin futures next week. CME Group on the 18th. Allows a way to short bitcoin
  • GOLD in very tight trading range………….$1,270- $1,300
  • Gold eases a little bit. Perhaps another run/test of $1,300 coming?
  • Gold WILL be the surprise move to the upside. Upside target $1,350
  • LONG TERM BULLISH ON BITCOIN AND GOLD

CURRENT TRADING POSITION:  LONG BITCOIN & GOLD

CURRENT TRADING POSITION:  LONG GOLD

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

Read our PRIOR daily commentaries on Bitcoin vs Gold here