BITCOIN Goes Dip Dip Bounce; GOLD Gets Smacked (2/6/18)

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.

2/6/18 Closing Prices:

Bitcoin:  $7,237.67  (-$62.85
Gold:  $1,323  (-$15) 
Dow Jones Industrials:  24,912.77  (+567.02)
S&P 500:  2,695.14  (+46.20)

Nasdaq Composite:  7,115.88  (+148.36)

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

Trading Summary Notes for Tuesday, 2/6/2018

  • BITCOIN drops below $7K several times, bounces and closes higher
  • BOUGHT BITCOIN IN TRADING ACCOUNT AT $7,120
  • Bitcoin behaving like an asset class? Correlation with equities? For right now anyway
  • Bottom in for bitcoin? Perhaps. Holding above $7K could signal a real turn higher
  • GOLD gets hit with selling as traders/investors sell gold and return to equities/cryptos
  • GOLD………..weakness is any opportunity to acquire
  • Inflation talk will return and gold will benefit
  • $1,310-$1,315 good support/entry area
  • 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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