BITCOIN Backs Off; GOLD Climbs Up (10/27/17)

Bitcoin Gold

FintekNews compares the price of Bitcoin, Gold & Major Market Averages on a daily basis, and uses the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing.

10/27/17 Closing Prices:

Bitcoin: $5,754.51  (-$181.50) 
Gold:  $1,273  (+$16)
Dow Jones Industrials:  23,434.19  (+33.33)
S&P500:  2,581.07 (+20.67) 

Nasdaq Composite:  6,701.26 
(+144.49)

CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index

Trading Summary Notes for Friday, 10/27/2017

  • BITCOIN sells off after a big jump. Failed attempt at $6,000
  • Bitcoin technical s are looking “stretched”. Top???
  • Not so sure of this rally. Bitcoin could be forming a “head and shoulders” technical top
  • Bitcoin traders use caution
  • GOLD inches up. Looks like it is “quiet money” for now
  • Gold looks likely to test the $1,250-$1,255 area. Lets be a buyer in that area
  • LONG TERM BULLISH ON BITCOIN AND GOLD

Current TRADING Positions:  NO CURRENT TRADING POSITIONS

 

Read our PRIOR daily commentaries on Bitcoin vs Gold here
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