The Taylor Report-Bitcoin vs Gold vs Ethereum (9/12/18)

ETH Bottom? Sold Out? Let's Go! BITCOIN Solid and Inches Up. GOLD Leaps Higher, Over $1,200 Again.


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.

9/12/18 Closing Prices:

Bitcoin: $6,270.75 (+$1.43) 
Ethereum: $172.92 (-$16.25) 
Gold: $1,206 (+$10) 
Dow Jones Industrials: 25,998.92 (+27.86)
S&P 500: 2,888.92 (+1.03)
Nasdaq Composite: 7,954.23 (-18.25)

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 Wednesday, 9/12/2018

  • ETHEREUM! We have our answer; a major fund having to sell a big hunk of their long position. Ugly, but selling may be done for a while
  • BOUGHT ETH @ $175
  • ETH downside $155-$160 (?); Upside target $300. Great risk reward
  • Long liquidation (selling) has been persistent for months. Is the/they done selling? Perhaps..
  • BITCOIN asserted itself as the leader of all crypto. New move higher coming? BTC very firm today and looking good
  • BITCOIN downside support at $6,000, upside target $8,500
  • GOLD leaps back over $1,200. Have been VERY bullish on GOLD and looks good
  • A solid close above $1,210 should bring in buyers; target $1,250. So far, $1,190-$1,195 is holding. After that $1,175-$1,180 is support
  • Wage inflation beginning to become a hot topic. Price inflation tends to follow higher wages. INFLATION very underestimated
  • 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