GOLD JUMPS UP BIG; BITCOIN “SNEAKS” HIGHER (9/7/17)

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.

9/7/17 Closing Prices:

Bitcoin:  $4,649.80  (+$59.10)
Gold:  $1,348  (+$14.00)
Dow Jones Industrials:  21,784.78  (-22.86)
S&P 500:  2,465.10  (-0.44) 

Nasdaq Composite:  6,397.87 
(+4.55)

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

Trading Summary Notes for Thursday, 9/7/2017

  • BITCOIN “sneaks” up a little higher. Heading back to $5,000? Beyond?
  • Bitcoin “dip buyers” rewarded…..again. Next leg up, or short term bounce?
  • Bitcoin traders use stops……both sell stops (for longs) and buy stops (for shorts)
  • “Buy the Dips” on Bitcoin. $4,100-$4,200? Good place
  • GOLD story of the day. Big jump up to resistance at $1,350
  • Consistent lower dollar and lower interest rates certainly helping gold
  • Short term target of $1,350 reached. Take profits or stay the course? Use stops
  • LONG TERM BULLISH ON BITCOIN & GOLD

Current TRADING Positions:  LONG GOLD

Past Market

 

Read our PRIOR daily commentaries on Bitcoin vs Gold here

See other content on bitcoin & digital currencies here