Home Bitcoin vs Gold BITCOIN Rallies More, Finishes Week Strong; GOLD Inches Up. Holds $1,300...

BITCOIN Rallies More, Finishes Week Strong; GOLD Inches Up. Holds $1,300 (5/4/18)

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.

5/4/18 Closing Prices:

Bitcoin:  $9,655.10  (+$236.60) 
Gold:  $1,314  (+$3)
Dow Jones Industrials:  24,262.51  (+332.36)
S&P 500:  2,663.42  (+33.69)

Nasdaq Composite:  7,209.62  (+121.47)

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

Trading Summary Notes for Friday, 5/4/2018

  • BITCOIN moves higher, has strong week
  • Solid close above $9,500 was very bullish. Next target $12,000-$12,500
  • Goldman Sachs opening a bitcoin trading desk adds to momentum
  • GOLD attempting to build a base above $1,300
  • A “tug-o-war” between bulls and bears around $1,300 has begun
  • Inflation fears will heat up as wage gains begin become more prevalent
  • A close above $1,320 would bring in buyers for a move back to $1,350-$1,355

CURRENT TRADING POSITION:  Long BITCOIN & GOLD