OH BOY! BITCOIN ALMOST $6,000; OH SAD! GOLD WEAKENS (10/20/17)

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.

10/20/17 Closing Prices:

Bitcoin: $5,803.49  (+$81.86)
Gold:  $1,281  (-$8)
Dow Jones Industrials:  23,328.63  (+165.59)
S&P500:  2,575.21  (+13.11) 

Nasdaq Composite:  6,629.05 
(+23.99)

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

Trading Summary Notes for Friday, 10/20/2017

  • BITCOIN pushing up toward $6,000. Looks like another big spike coming.
  • So much for the “equity/bitcoin correlation”. Both can go up….and up….and up
  • If bitcoin begins moving up through $6,000 maybe put in buy stops to participate
  • SATURDAY UPDATE: BOUGHT BITCOIN @ $6,025 ON A BUY STOP
  • PLACE BITCOIN SELL STOP @ $5,720
  • BITCOIN momentum certainly UP
  • GOLD struggles for “market acceptance”. Dead money it seems
  • Gold may test the $1,250-$1,255 area. Lets be a buyer in that area
  • LONG TERM BULLISH ON BITCOIN AND GOLD

Current TRADING Positions:  NO current TRADING positions

 

Read our PRIOR daily commentaries on Bitcoin vs Gold here
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