By Bill Taylor, Contributor/Fintek Capital
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.
10/9/18 Closing Prices:
Bitcoin: $6,565.33 (-$47.43) Ethereum: $225.70 (-$1.69) Gold: $1,191 (+$3.00) Dow Jones Industrials: 26,430.57 (-56.21) S&P 500: 2,880.34 (-4.09) Nasdaq Composite: 7,738.02 (+2.07)
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 IndexT
rading Summary Notes for Tuesday, 10/9/2018
- Going nowhere and going nowhere slowly. That's BITCOIN, ETH & GOLD
- Cryptos in general are suffering from lack of interest even though the crypto fundamentals keep improving
- Gearing up for a big 4th quarter end of year rally? May be a safe bet
- BITCOIN downside support at $6,000, upside target $8,500
- ETH downside at $200, upside target $300
- After a huge drop yesterday GOLD holds support and finishes higher on the day
- Strong dollar and thoughts (or fears) of higher interest rates push GOLD lower, BUT just under $1,200 has strong support. Buy the dips
- Support at $1,175-$1,180
- Long term bullish on BITCOIN and GOLD. Short term bullish on ETH
CURRENT TRADING POSITION:
LONG BITCOIN, ETH and GOLD
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor