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.
2/20/18 Closing Prices:
Bitcoin: $11,459.58 (+$1279.36) (from 2/16 Friday close) Gold: $1,330 (-$19)(from 2/16 Friday close) Dow Jones Industrials: 24,964.75 (-254.63) S&P 500: 2,716.26 (-15.96) Nasdaq Composite: 7,234.3 (-5.16)
CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time IndexTrading Summary Notes for Tuesday, 2/20/2018
- BITCOIN rallies over the three day President's Day weekend; up over $11K
- New strong uptrend appears to be in place
- "Mystery buyer" of over $400M bought the dip a week and a half ago. Took out sellers and "weak" hands
- Another run at $20K? Lets see $12,500-$13,000 first
- GOLD falls further back from the $1,250 resistance area......again
- Re-test of $1,310-$1,315? Maybe. Its a good buy/entry point
- Stronger dollar hurts gold.
- Inflation fears will trump potential higher rates (Note: 1970's inflation and 20% interest rates had a huge bullish gold run)
- Top 2018 “HOT” picks……….. long both BITCOIN & GOLD
CURRENT TRADING POSITION: Long BITCOIN & GOLD
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