By Bill Taylor, Contributor
We compare 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.
5/14/18 Closing Prices:
Bitcoin: $8,739.18 (+$139.27) (from Friday's close) Gold: $1,314 (-$5) (from Friday's close) Dow Jones Industrials: 24,899.41 (+68.24) S&P 500: 2,730.13 (+2.41) Nasdaq Composite: 7,411.31 (+8.43)
CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time IndexTrading Summary Notes for Monday, 5/14/2018
- After a weekend of slowly sinking, BITCOIN jumps back up on positive Goldman Sachs comments
- Futures expiring may have caused some recent selling pressure
- Bitcoin still caught in a fairly tight trading range with lack of interest from bulls
- South Korea raiding a bitcoin exchange last week added to selling. That's in the past now
- Near term target $9,500
- GOLD backs off having not been able to hold $1,320
- Needs a solid close above $1,320 to move higher
- Our price target is $1,395-$1,400
CURRENT TRADING POSITION: Long BITCOIN & GOLD
CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews