BITCOIN Heads Back Down; GOLD Perks Back Up (11/9/17)

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.

11/9/17 Closing Prices:

Bitcoin:  $7,184.26  (-$321.84)
Gold:  $1,286  (+$5.00)
Dow Jones Industrials:  23,461.94  (-101.42)
S&P 500:  2,584.62  (-9.76)

Nasdaq Composite:  6,750.05  (-39.06)

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

Trading Summary Notes for Thursday, 11/9/2017

  • The BITCOIN  “no fork” party is out of steam. Nice pop, all over
  • Bitcoin back in the consolidation/retrenchment mode
  • Now what? Stabilize? Personally, look for a bit more softness and consolidation
  • GOLD pulls itself back up. Push to $1,295-$1,300
  • Gold getting closer to resistance. A break above $1,300 leads to $1,350
  • Still thinking gold want so go UP. Needs a reason and momentum investors
  • LONG TERM BULLISH ON BITCOIN AND GOLD

CURRENT TRADING POSITION: LONG GOLD 

 

Read our PRIOR daily commentaries on Bitcoin vs Gold here
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