The Taylor Report-Bitcoin vs Gold vs Ethereum (9/27/18)

BITCOIN Sleeps, Up $8.00; ETH Sleeps too, Up $3.00; Dollar Sinks GOLD, Plunges $10

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.

9/27/18 Closing Prices:

Bitcoin: 6,499.80 (+$8.02) 
Ethereum: $218.07 (+$3.30)
Gold: $1,198 (-$10.00) 
Dow Jones Industrials: 26,439.93 (+54.65)
S&P 500: 2,914.00 (+8.03)
Nasdaq Composite: 8,041.97 (+51.60)

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 Thursday, 9/27/2018

  • Going nowhere! BITCOIN and ETH only add a few dollars
  • I AM QUOTING MYSELF FROM YESTERDAY;    “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
  • The dollar rallied sharply and GOLD dropped sharply
  • Expectations of more interest hikes makes the dollar stronger………and GOLD weaker
  • Breaking support at $1,190 puts GOLD in a more negative position. Next support should be $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