BITCOIN TAXIS INTO TAKEOFF POSITION; GOLD HOLDS SHORT (8/24/17)

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.

8/24/17 Closing Prices:

Bitcoin:  $4,208.54  (+$14.77)
Gold:  $1,286  (-$4.00)
Dow Jones Industrials:  21,783.40 (-28.69)
S&P 500:  2,438.97  (-5.07) 

Nasdaq Composite:   6,271.33 
(-7.08)

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

Trading Summary Notes for Thursday, 8/24/2017

  • Bitcoin inches up and sneaks a little further away from $4,000
  • Bitcoin seems to have firmed up and poised for new move higher
  • Bitcoin “dip buyers” can look for $3,950-$4,050 area to step in
  • “Air Traffic Control Talk”…. Bitcoin cleared for takeoff on runway $5,000. Cleared to roll
  • Gold consolidating gains just short of $1,300 resistance
  • Gold looking very good. Upside target $1,350
  • Traders can buy gold on dips against sell stop at $1,250
  • “Air Traffic Control Talk”…….Gold, hold short of bitcoin’s runway. You are next in line for takeoff on runway $1,350.
  • LONG TERM BULLISH ON BITCOIN & GOLD

Current TRADING Positions:   LONG BITCOIN & LONG GOLD

Past Market:



Read our PRIOR daily commentaries on Bitcoin vs Gold here

See other content on bitcoin & digital currencies here