BITCOIN Gives Up Strong Weekend Buying, Settles Just Below $9K, GOLD Moves Up $1 (3/12/18)

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.

3/12/18 Closing Prices:

Bitcoin:  $8,920.57  (-$95.68) (from Friday’s close)
Gold:  $1,324  (+$1) (from Friday’s close)
Dow Jones Industrials:  25,178.61  (-157.13)
S&P 500:  2,783.02 (-3.55)

Nasdaq Composite:  7,588.33 (+27.51)

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

Trading Summary Notes for Monday, 3/12/2018

  • BITCOIN gets solid weekend buying, pushes well above $9K
  • Selling returns pushing bitcoin down to just under $9K, basically unchanged from Friday
  • Seems bitcoin has a large seller that sells into rallies. Japan whale??
  • Chatter of “new” opinions of a bitcoin/stock market correlation are very far fetched
  • Bitcoin rallies may be muted until a large seller is complete. When?? No guess.
  • GOLD adds $1 in super quiet trade
  • Gold seems to be stuck in a very tight trading range…..$1,310-$1,340
  • Still very bullish on gold
  • Gold is getting ready to challenge $1,400……………at some point. $1,350 first
  • Top 2018 “HOT” picks……… long both BITCOIN & GOLD

CURRENT TRADING POSITION:  Long BITCOIN & GOLD



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

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