The Taylor Report-Bitcoin vs Gold vs Ethereum (9/26/18)

Whoa!! Reverse Yesterday! BITCOIN Heads Up, ETH Adds $5; GOLD Drops $6 to Below $1,200

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.

9/26/18 Closing Prices:

Bitcoin: 6,491.78 (+$76.62) 
Ethereum: $214.77 (+$5.15)
Gold: $1,195 (-$6.00) 
Dow Jones Industrials: 26,385.28 (-106.93)
S&P 500: 2,905.97 (-9.59)
Nasdaq Composite: 7,990.37 (-17.10)

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, 9/26/2018

  •  The Yo Yo movements continue in the cryptos. Today reverses yesterday
  • BITCOIN adds $75, ETH adds $5
  • Why? WTF? Once again, I honestly have no idea. Cryptos (specifically BTC & ETH) are suffering from general lack of interest. Negative news (hacks, manipulation, etc.) brings in some sellers, dip buyers then step in. That’s it…
  • BITCOIN downside support at $6,000, upside target $8,500
  • ETH downside at $200, upside target $300
  • GOLD drops $6 on Fed raising interest rates, back below $1,200. Fed move was totally expected and a few more rate rises have been anticipated. Again, WTF? Very fickle
  • Inflation is picking up and tougher trade talk should help GOLD
  • Great buying opportunity for GOLD. $1,190-$1,195 held support, upside target $1,245-$1,250. GOLD needs a solid close above $1,210
  • 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