Last Week Holiday Shortened; Strong Weekend; Resurgence In BITCOIN, ETH and GOLD? (7/9/18)

bitcoin gold


WE HOPE YOU ENJOY OUR NEW FORMAT FOR BITCOIN VS GOLD, INCLUDING A LINK TO THE NEW CME ETHEREUM INDEXES! 

By Bill Taylor, Contributor

We compare the price of Bitcoin, Ethereum, & Gold, using the CME Bitcoin Indexes (BRR & BRTI) and the CME Ethereum Indexes (ETH_RR_USD) & (ETH_RTI_USD) for reference.

7/9/18 Closing Prices:

Bitcoin: $6,717.54 (+$108.78) (from Monday July 2nd close)
Ethereum: $480.60 (+$7.89) (from Monday July 2nd close)
Gold: $1,259 (+$18) (from Monday July 2nd close)
Dow Jones Industrials: 24,776.59 (+$320.11)
S&P 500: 2,784.17 (+24.35)
Nasdaq Composite: 7,756.20 (+67.83)

CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index
CME ETH_RR_USD Ethereum Reference Rate & CME ETH_RTI_USD Ethereum Real Time Index

Trading Summary Notes for Monday, 7/9/2018

  • Last week featured the U.S 4th of July Independence Day holiday (Wed.) BTC, ETH and GOLD all firmed up and crept higher.
  • The weekend turned more positive and stronger, led by gold
  • So, is the long selloff over? Good trading entry? Lets see
  • BOUGHT BITCOIN AT $6,520
  • BOUGHT GOLD AT $1,252
  • Risk/reward here to good to pass up. BTC……risking $2,000 (down to $4,500) to make $13,000 (back to $19K)
  • Risk/reward in gold………..risking $50 (down to $1,200) to make $150 ($14,000 target)
  • Strong selling climax down to BTC $4,000 didn’t happen; Gold firm up under $1,250. Upside fundamentals to good and risk/reward to positive.
  • Long term bullish on BTC, ETH and GOLD

CURRENT TRADING POSITION:  LONG BITCOIN AND GOLD



Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews