GOLD TURNS IT AROUND; BITCOIN SLEEPWALKS UP A LITTLE (10/6/17)

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.

10/6/17 Closing Prices:

Bitcoin:  $4,373.78   (+$68.42)
Gold:  $1,274  (+$5.00)
Dow Jones Industrials: 22,773.67  (-1.72)
S&P500: 2,549.33  (-2.74) 

Nasdaq Composite:  6,590.18 
(+4.82)

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

Trading Summary Notes for Friday, 10/6/2017

  • BITCOIN works its way higher in quiet trade
  • Volatility in bitcoin has slowed recently. Working its way through resistance at $4,400-$4,500
  • $6,000? Well, first $4,500 and then $5,000. THEN $6,000
  • Momentum building, BUT always use trading stops
  • GOLD sells off in the morning than turns around to close higher
  • GOLD touches $1,260…….the top of our buying area ($1,250-$1,260)
  • Should have support in the $1,250 area
  • Has gold turned UP? Good reversal this morning. Lets see
  • Raising trading buy area to $1,260- $1,265 for a buying opportunity

Past Market

 

Read our PRIOR daily commentaries on Bitcoin vs Gold here
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