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.
9/28/18 Closing Prices:
Bitcoin: 6,647.80 (+$148) Ethereum: $225.86 (+$7.79) Gold: $1,192 (+$7.00) Dow Jones Industrials: 26,458.31 (+18.38) S&P 500: 2,913.98 (-0.02) Nasdaq Composite: 8,046.35 (+4.39)
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 IndexT
rading Summary Notes for Friday, 9/28/2018
- Buyers returned to BITCOIN, ETH and GOLD and all posted solid gains
- Quietly a very solid floor is being put in place in the cryptos; The GOLD floor is kind of a work in process
- To again point out, the risk/reward in these areas are very positive
- BITCOIN downside support at $6,000, upside target $8,500
- ETH downside at $200, upside target $300
- GOLD under $1,200 is a super long term risk/reward play. Support at $1,175-$1,180 with an upside target of $1,350
- 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