Sellers Scooooooooooooore; BTC, ETH & Gold Sell Off Big; Choppy Up-Down Trade (7/10/18)

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.

7/10/18 Closing Prices:

Bitcoin: $6,366.37  (-$351.17) 
Ethereum: $437.62 ($42.98) 
Gold: $1,256 (-$3) 
Dow Jones Industrials: 24,919.66 (+$143.07)
S&P 500: 2,793.84 (+9.67)
Nasdaq Composite: 7,759.20 (+3.00)

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 Tuesday, 7/10/2018

  • Choppy trade. Up, down, up, down….rinse and repeat
  • Treading water and hoping there are no sharks……..Going back to yesterday…..
    • 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 too good and risk/reward too 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