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

BITCOIN Goes Nowhere; ETH Goes Nowhere; GOLD Goes Nowhere; Enough Said......Its DULL!!

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.

9/18/18 Closing Prices:

Bitcoin: $6,359.37 (-$1.45) 
Ethereum: $210.97 (+$3.43) 
Gold: $1,198 (-$3) 
Dow Jones Industrials: 26,246.96 (+184.84)
S&P 500: 2,904.31 (+15.51)
Nasdaq Composite: 7,956.11 (-+60.31)

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, 9/18/2018

  • Nothing to report since nothing happened. BITCOIN, ETH and GOLD all had muted moves with barely any change
  • There is a total lack of interest in these sectors. Why? No idea.
  • So, lets just repeat;
  • All three (BTC, ETH & GOLD) are caught in a “yo-yo” trading range. Up, down, up, down. Very little interest and only choppy trade
  • BITCOIN downside support at $6,000, upside target $8,500
  • ETH downside at $165-$170, upside $300
  • GOLD, a solid close above $1,210 should bring in buyers; target $1,250. So far, $1,190-$1,195 is holding.
  • 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