BITCOIN (Oh Oh) Has Selling Issues; GOLD Perking Up, Heading Up (1/11/18)

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.

1/11/18 Closing Prices:

Bitcoin:  $14,050.37  (-$95.61)
Gold:  $1,322  (+$4.00)
Dow Jones Industrials:  25,574.73  (+205.60)
S&P 500:  2,767.56  (+19.33)

Nasdaq Composite:  77,211.78  (+58.21)

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

Trading Summary Notes for Thursday, 1/11/2018

  • BITCOIN starting to ‘buckle’ under constant selling pressure
  • SOLD BITCOIN TRADING POSITION AT $14,020. Always use stops
  • Why is bitcoin under pressure? China clamping down on miners? South Korea banning trading? Money moving into global equities? Too many bullish longs? OR, ALL of the previous
  • Selling is selling. May be time to sit back and watch for a while.
  • GOLD picking up momentum and heading higher
  • Commodity and metals markets picking up on inflation worries
  • Looking at $1,350 near term
  • A big story for 2018? Inflation led by strong wage increases. Very bullish for gold
  • Top 2018 “HOT” picks………..both BITCOIN & GOLD

CURRENT TRADING POSITION:  Long GOLD


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

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