Home Bitcoin vs Gold BITCOIN Sells Off Again, Just Under $9K; GOLD Breaking Down, Testing $1,300...

BITCOIN Sells Off Again, Just Under $9K; GOLD Breaking Down, Testing $1,300 (5/1/18)

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.

5/1/18 Closing Prices:

Bitcoin:  $8, 905.41 (-$359.66) 
Gold:  $1,305  (-$12)
Dow Jones Industrials:  24,099.05  (-64.10)
S&P 500:  2,654.80  (+6.75)

Nasdaq Composite:  7,130.70  (+64.44)

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

Trading Summary Notes for Tuesday, 5/1/2018

  • BITCOIN experiencing trouble getting through $9,400-$9,500
  • Failing again at mid $9K area, selling kicked in and knocked bitcoin under $9K
  • Trading range getting tighter. Momentum stalls
  • Pushing above $9,500 will set the next target at $12,000-$12,500
  • GOLD breaking down on interest rate fears, firmer dollar
  • Breaking below our support at $1,315-$1,320 and now testing $1,300. Danger?
  • Geopolitical fears (Mideast) and lurking inflation will ‘trump’ interest rates and dollar strength………at some point
  • Moving to “neutral” on gold

CURRENT TRADING POSITION:  Long BITCOIN & GOLD