The Taylor Report-Bitcoin vs Gold vs Ethereum (10/9/18)

BITCOIN and ETH Drift Lower; GOLD Inches Higher; Listless Trading

Bill Taylor


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 Index

Trading 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