By Bill Taylor, Contributor
We compare 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.
5/15/18 Closing Prices:
Bitcoin: $8,632.83 (-$106.35)
Gold: $1,292 (-$22)
Dow Jones Industrials: 24,706.41 (-193.00)
S&P 500: 2,711.45 (-18.68)
Nasdaq Composite: 7,351.63 (-59.69)
Trading Summary Notes for Tuesday, 5/15/2018
- BITCOIN drifting with lack of interest. Still caught in a fairly tight trading range with lack of interest from bulls
- Increased futures trading has dampened volatility
- Time for sell stops if long?
- Near term target $9,500
- GOLD crashes below $1,300
- 10 year treasuries solidly above 3% with strength in USD too much for gold.
- Interest rates and dollar strength trumping inflation fears….for now
- SOLD GOLD POSITION AT $1,298
- Going neutral on gold; may see more weakness
CURRENT TRADING POSITION: Long BITCOIN