BITCOIN Takes First Bitcoin Futures Expiration in Stride; GOLD Inches Back to $1,350 (1/26/18)

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.

1/26/18 Closing Prices:

Bitcoin:  $10,925.37  (-$142.61)
Gold:  $1,350  (+$2) 
Dow Jones Industrials:  26,616.71  (+223.92)
S&P 500:  2,872.87  (+33.62)

Nasdaq Composite:  7,505.77  (+94.61)

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

Trading Summary Notes for Friday, 1/26/2018

  • BITCOIN handles the first futures expiration easily. Locks in at $11K
  • First futures rollover now complete what is next? Maybe quiet time.
  • Bitcoin had one “expert” say bitcoin to triple this year
  • Bitcoin had one “expert” say bitcoin will drop 90% this year
  • Meaning? NO ONE KNOWS. Let the hype settle down for a while
  • GOLD climbs a few dollars on the dollars new weakness. Right at $1,350
  • $1,350 is former resistance AND the breakout point. Quiet time for gold too?
  • Gold benefiting from lower dollar and inflation worries. DO NOT BE SHORT GOLD!
  • Next stop should be $1,395-$1,400
  • Top 2018 “HOT” picks……….. long both BITCOIN & GOLD

CURRENT TRADING POSITION:  Long GOLD

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

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