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.
9/5/17 Closing Prices:
Bitcoin: $4,380.05 (+$21.85)
Gold: $1,342 (+$8.00)
Dow Jones Industrials: 21,753.31 (-234.25)
S&P 500: 2,457.85 (-18.70)
Nasdaq Composite: 6,375.57 (-59.76)
Trading Summary Notes for Tuesday, 9/5/2017
- BITCOIN (all cryptos) hit hard over the weekend with China banning ICO’s
- $5,000 reached, touched and celebrated. Top for now? Too soon to tell
- Bitcoin needs to settle down and firm up. Maybe a little more weakness before resuming long term up trend.
- Buy the bitcoin dips. $4,100-$4,200? Good place.
- GOLD extremely strong. Looks like interest rates may NOT be raised in December
- Gold very under owned with demand picking up. Geopolitical events helping.
- GOLD upside target of $1,350. That’s for short term traders and may be low
- LONG TERM BULLISH ON BITCOIN & GOLD
Current TRADING Positions: LONG GOLD