BITCOIN WANDERS; YELLEN SMACKS GOLD (9/20/17)

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.

9/20/17 Closing Prices:

Bitcoin:  $4,014.67  (+$32.57)
Gold:  $1,301  (-$10.00)
Dow Jones Industrials:  22,412.59  (+41.79)
S&P 500:  2,508.24  (+1.59) 

Nasdaq Composite:  6,456.04 
(-5.28)

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

Trading Summary Notes for Wednesday, 9/20/2017

  • BITCOIN wanders around and settles only a bit higher (above $4,000)
  • BITCOIN’S sharp rally looks exhausted. Heading back down? YUP!
  • May be looking at another sharp drop and a test of last week’s low
  • GOLD suffers from Fed’s comments on rates. Hurricane weakness “transitory”, won’t stop rate increases
  • Gold may be breaking down. Longs use stops for trading……..$1,285-$1,290
  • LONG TERM BULLISH ON BITCOIN & GOLD

Current TRADING Positions:  LONG GOLD

Past Market

 

Read our PRIOR daily commentaries on Bitcoin vs Gold here

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