BITCOIN Has a Happy Monday Rally After Weekend Slide; GOLD Drops Back (5/14/18)

 Bitcoin Gold


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 Index

Trading 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