BITCOIN SOFTENS A BIT (lol) MORE; GOLD DROPS MORE TOO (10/17/17)

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.

10/17/17 Closing Prices:

Bitcoin:  $5,602.72  (-$84.30)
Gold:  $1,286  (-$8)
Dow Jones Industrials:  22,997.44  (+40.48)
S&P500:  2,,559.36  (+1.72) 

Nasdaq Composite: 6,623.66 
(+0.35)

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

Trading Summary Notes for Tuesday, 10/17/2017

  • BITCOIN still digesting last week’s big gains. Taking a break
  • Settling down slightly after last weeks HUGE spike not unexpected
  • We expected the softness and retrenchment…………now what??
  • Traders (if out) can place buy stops just over $6,000 for next momentum move
  • Long term bitcoin goes much higher.
  • GOLD struggling. Drifting away form $1,300….again
  • May test the $1,250-$1,255 area. Lets be a buyer in that area
  • LONG TERM BULLISH ON BITCOIN AND GOLD

Current TRADING Positions:  NO current TRADING positions

Past Market

 

Read our PRIOR daily commentaries on Bitcoin vs Gold here
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